Ross Canceling Merchandise Orders Through June: Reuters
“This is the first time in our history that we are unable to deliver exceptional merchandise to our customers,” the company wrote, noting that it would also extend payment terms by 90 days on all existing merchandise payables.
Like most apparel retailers at this point, Ross has temporarily shuttered all of stores to help prevent the spread of COVID-19. As of this writing, its website notes that stores will be closed through April 3.
Ross, an off-price apparel, footwear and home goods retailer that capitalizes on the “treasure hunt” mentality, operates 1,546 locations in 39 states, Washington DC and Guam, as well as 259 DD’s Discounts in 19 states.
The company, which reported $16 billion in revenue in fiscal 2019, lacks the e-commerce safety net that many retailers are hoping will prop them up during this difficult period.
Discount chain TJX has also temporarily closed its stores, as well as its online businesses.
Burlington said in its last earnings call that it’s planning to pull the plug on its e-commerce site so it can pour greater resources into physical retail; no word on whether the impact of the coronavirus could adjust those plans.