Business
Ross Stores Provides Additional COVID-19 Related Update, Announces Closure of All Store Locations
DUBLIN, Calif.--(BUSINESS WIRE)-- Ross Stores, Inc. (NASDAQ: ROST) announced today that given the rapidly escalating developments related to the COVID-19
About this update from Ross Stores, Inc.
[{"type":"text","content":" DUBLIN, Calif.--(BUSINESS WIRE)--\nRoss Stores, Inc. (NASDAQ: ROST) announced today that given the rapidly escalating developments related to the COVID-19 pandemic, the Company will now temporarily close all Ross Dress for Less® and dd’s DISCOUNTS® locations throughout the United States effective March 20, 2020 through April 3, 2020.\n\n\nIn support of our associates during this time of uncertainty, we are currently providing up to two weeks of continued pay for any full-time or hourly associate who cannot work due to a COVID-19 related closure.\n\n\nBarbara Rentler, Chief Executive Officer, commented, “We want to emphasize that in these unprecedented times, the safety and well-being of our customers and associates will always be of the utmost importance to us. As previously announced, we have already closed numerous stores based on government directives and reduced store hours across the country. Today, we decided to close all locations to help prevent the ongoing spread of the coronavirus.”\n\n\nForward-Looking Statements: This press release contains forward-looking statements regarding expected sales, earnings levels, new store growth, and other financial results 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,” “outlook,” “looking ahead,” and similar expressions identify forward-looking statements. Risk factors for Ross Dress for Less® (“Ross”) and dd’s DISCOUNTS® include without limitation, the recent and ongoing uncertainties and potential business disruption from the COVID-19 pandemic; competitive pressures in the apparel or home-related merchandise retailing industry; changes in the level of consumer spending on or preferences for apparel and 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, geopolitical conditions, or public health issues (such as pandemics); our ability to continually attract, train, and retain a...