rewrite this title in other words: Meta creates new AI unit to accelerate model development PYMNTS.com – in Etokom

Summarize this content to 100 words: Off-price retailer Ross Stores saw “strong” comparable store sales growth in the fourth quarter, which it attributed to its success in drawing shoppers away from mainstream retailers.

The company’s comparable store sales rose 9% in the quarter ended Jan. 31, compared with a 3% gain during the same period last year, and its total sales rose 12%, according to an earnings release Tuesday (March 3).
Ross Stores CEO Jim Conroy said during Tuesday’s earnings call that he believes the largest portion of market share has come from mainstream retailers. Another, larger off-price retailer also posted a solid quarter, so the share didn’t come from them, he said.
“I think the share shift is more toward off-price in general from mainstream retail, department stores and other places like that, and we would like to get our fair share or, certainly, more than our fair share, from that shift,” Conroy said.
Ross Stores operates off-price apparel and home fashion chain Ross Dress for Less and more moderately priced apparel, accessories, shoes, and discount home fashion chain DD.
During the fourth quarter, the company saw growth across both businesses, all business categories and every region of the country.Advertisement: Scroll to continue

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Conroy said new marketing campaigns launched around the back-to-school season contributed to this increase, along with some other changes.
“The changes in marketing, some in-store changes and certainly the assortment is really great,” Conroy said. “In terms of marketing spend, you put all that together, and it turned out to be a really good Q3 and Q4.”
Looking ahead, Ross Stores expects comparable store sales to grow 7% to 8% during the current quarter and 3% to 4% for the full year.
“Early on, we are encouraged by the continued strength in business as the spring season begins,” Ross Stores Chief Financial Officer William Sheehan said during the call.
Due to strength in both comparable store sales growth and new store productivity, Ross Stores plans to continue expanding its store count in 2026, Conroy said.
The company added 90 new stores in 2025, while closing nine, bringing the total to 2,267 at the end of the fourth quarter.
In 2026, Ross Stores plans to open 110 new stores, representing 5% growth. Conroy said that in the long term, the company plans to increase its total number of stores to 3,600.
A rival off-price retailer, The TJX Companies, is also adding stores after seeing its merchandise appeal to different income and age demographics. The company said on Feb. 25 that during the fiscal year ending Jan. 31, 2027, it plans to add 146 net new stores, increasing its store count by about 3%.

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Off-price retailer Ross Stores saw “strong” comparable store sales growth in the fourth quarter, which it attributed to its success in drawing shoppers away from mainstream retailers.

The company’s comparable store sales rose 9% in the quarter ended Jan. 31, compared with a 3% gain during the same period last year, and its total sales rose 12%, according to an earnings release Tuesday (March 3).

Ross Stores CEO Jim Conroy said during Tuesday’s earnings call that he believes the largest portion of market share has come from mainstream retailers. Another, larger off-price retailer also posted a solid quarter, so the share didn’t come from them, he said.

“I think the share shift is more toward off-price in general from mainstream retail, department stores and other places like that, and we would like to get our fair share or, certainly, more than our fair share, from that shift,” Conroy said.

Ross Stores operates off-price apparel and home fashion chain Ross Dress for Less and more moderately priced apparel, accessories, shoes, and discount home fashion chain DD.

During the fourth quarter, the company saw growth across both businesses, all business categories and every region of the country.

Advertisement: Scroll to continue

We’d love to be your go-to source for news.

Please add us to your Favorite Sources list so that our news, data and interviews appear in your feed. Thank you!

Conroy said new marketing campaigns launched around the back-to-school season contributed to this increase, along with some other changes.

“The changes in marketing, some in-store changes and certainly the assortment is really great,” Conroy said. “In terms of marketing spend, you put all that together, and it turned out to be a really good Q3 and Q4.”

Looking ahead, Ross Stores expects comparable store sales to grow 7% to 8% during the current quarter and 3% to 4% for the full year.

“Early on, we are encouraged by the continued strength in business as the spring season begins,” Ross Stores Chief Financial Officer William Sheehan said during the call.

Due to strength in both comparable store sales growth and new store productivity, Ross Stores plans to continue expanding its store count in 2026, Conroy said.

The company added 90 new stores in 2025, while closing nine, bringing the total to 2,267 at the end of the fourth quarter.

In 2026, Ross Stores plans to open 110 new stores, representing 5% growth. Conroy said that in the long term, the company plans to increase its total number of stores to 3,600.

A rival off-price retailer, The TJX Companies, is also adding stores after seeing its merchandise appeal to different income and age demographics. The company said on Feb. 25 that during the fiscal year ending Jan. 31, 2027, it plans to add 146 net new stores, increasing its store count by about 3%.

(TagstoTranslate)AI(T)Meta(T)News(T)PYMNTS News(T)Superintelligence Lab(T)What’s Special

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