As many shoppers and retailers struggle, Californias Ross Dress for Less is booming
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As big malls and department stores close, bargain chains like Ross Dress for Less are rolling out new stores.Economic anxiety and inflation are leading shoppers to spend less and search for savings.In this bombed-out retail landscape, some chains are thriving and opening new outlets.
At a new Ross in Alhambra, Liz Lopez was shopping for a designer purse.She is a big fan of the Dublin-based chain and thrilled to now have one just 10 blocks from her home.
“I come on Tuesdays for the senior discounts,” Lopez said, showing off her new black Dolce & Gabbana purse.“I always find good deals.” The new store on East Valley Boulevard opened this month.
One of its sister shops — dd’s Discounts, which is owned by the same parent company — opened in North Hollywood.This year, the parent company, Ross Stores Inc., plans to open 110 new outlets across the country, after 90 last year.
Business Two more discount retail stores have landed in Southern California.Ross Chief Executive Jim Conroy said Ross is capturing market share by attracting customers away from other retail chains.“The share shift is more from mainstream retail, department stores and other places like that,” he told analysts after announcing strong growth early this month.Other discount outlets, including T.J.
Maxx, Dollar General, Nordstrom Rack and Five Below, are also expanding to capitalize on tough times.Business With secondhand shopping on the rise, one L.A.
store has carved out a niche by helping influencers sell their surplus clothes.Retail data show shoppers are visiting a broader spectrum of destinations to find lower prices, said Placer.ai, which tracks people’s movements based on cellphone usage.“Consumers have become increasingly selective and price-sensitive, actively pivoting away from traditional mid-market chains in favor of discount retailers and value-oriented brands,” Placer.a...