Ross Stores Appoints Brian Morrow President And Chief Merchandising Officer Of dd's DISCOUNTS®

Nov 05, 2015, 17:15 ET from Ross Stores, Inc.

DUBLIN, Calif., Nov. 5, 2015 /PRNewswire/ -- Ross Stores, Inc. (Nasdaq: ROST) announced today that Brian Morrow will join the Company as President and Chief Merchandising Officer, dd's DISCOUNTS effective December 7, 2015. Mr. Morrow will report directly to Barbara Rentler, the Company's Chief Executive Officer, and be responsible for directing all aspects of merchandising at dd's DISCOUNTS.

Most recently, Mr. Morrow served as President and Chief Merchandising Officer for Stein Mart, Inc., since April 2014 directing all buying, planning and allocation, marketing, and e-commerce initiatives. He joined Stein Mart in February 2010 as Executive Vice President and Chief Merchandising Officer. Mr. Morrow is a seasoned merchant with more than 30 years of in-depth merchandising management experience including roles with Macy's West, Mervyn's, Macy's North/Marshall Field's, and May Company.

Ms. Rentler said, "We are delighted to have Brian join our senior management team. We are confident that his proven business acumen and broad-based merchandising management experience will be valuable resources in driving the successful long-term growth of dd's DISCOUNTS."

Forward-Looking Statements:  This press release contains forward-looking statements regarding expected growth in future periods that are subject to risks and uncertainties which could cause our actual results to differ materially from management's current expectations. The words "plan," "expect," "target," "anticipate," "estimate," "believe," "forecast," "projected," "guidance," "looking ahead" and similar expressions identify forward-looking statements. Risk factors for Ross Dress for Less® ("Ross") and dd's DISCOUNTS® include without limitation, competitive pressures in the apparel or home-related merchandise retailing industry; changes in the level of consumer spending on or preferences for apparel or home-related merchandise; market availability, quantity, and quality of attractive brand name merchandise at desirable discounts and our buyers' ability to purchase merchandise that enables us to offer customers a wide assortment of merchandise at competitive prices; impacts from the macro-economic environment, financial and credit markets, and geopolitical conditions that affect consumer confidence and consumer disposable income; our ability to continually attract, train and retain associates to execute our off-price strategies; unseasonable weather trends; potential data security breaches, including cyber-attacks on our transaction processing and computer information systems, which could result in theft or unauthorized disclosure of customer, credit card, employee, or other private and valuable information that we handle in the ordinary course of our business - such breaches of our data security, or our failure or delay in detecting and mitigating a loss of personal or business information, could result in damage to our reputation, loss of customer confidence, violation (or alleged violation) of applicable laws, and could expose us to civil claims, litigation and regulatory action, and to unanticipated costs and disruption of our operations; potential disruptions in our supply chain or information systems; issues involving the quality, safety, or authenticity of products we sell; our ability to effectively manage our inventories, markdowns, and inventory shortage to achieve planned gross margin; volatility in revenues and earnings; an adverse outcome in various legal, regulatory, or tax matters; natural or man-made disaster in California or in another region where we have a concentration of stores or a distribution center; increase in our labor costs; unexpected issues or costs from expanding in existing markets and entering new geographic markets; obtaining acceptable new store sites with favorable demographics; damage to our corporate reputation or brands; issues from importing merchandise from other countries; and maintaining sufficient liquidity to support our continuing operations, new store and distribution center growth plans, and stock repurchase program and dividend programs. Other risk factors are set forth in our SEC filings including without limitation, the Form 10-K for fiscal 2014 and Form 10-Q and 8-Ks for fiscal 2015.  The factors underlying our forecasts are dynamic and subject to change.  As a result, our forecasts speak only as of the date they are given and do not necessarily reflect our outlook at any other point in time.  We do not undertake to update or revise these forward-looking statements.

Ross Stores, Inc. is an S&P 500, Fortune 500 and Nasdaq 100 (ROST) company headquartered in Dublin, California, with fiscal 2014 revenues of $11.0 billion. The Company currently operates Ross Dress for Less® ("Ross"), the largest off-price apparel and home fashion chain in the United States with 1,276 locations in 34 states, the District of Columbia and Guam. Ross offers first-quality, in-season, name brand and designer apparel, accessories, footwear and home fashions for the entire family at savings of 20% to 60% off department and specialty store regular prices every day. The Company also operates172 dd's DISCOUNTS® in 15 states that feature a more moderately-priced assortment of first-quality, in-season, name brand apparel, accessories, footwear and home fashions for the entire family at savings of 20% to 70% off moderate department and discount store regular prices every day. Additional information is available at www.rossstores.com.

Contact:

Michael Hartshorn

Connie Kao

Group Senior Vice President,

Senior Director, Investor Relations

Chief Financial Officer

(925) 965-4668

(925) 965-4503

connie.kao@ros.com

 

SOURCE Ross Stores, Inc.



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