Highlights
    


Fiscal 2000 revenues increased 10% to $2.7 billion, benefiting from 8% growth in new stores and a 1% increase in comparable store sales.

The company's Board of Directors authorized a two-year $300 million stock repurchase program. The company repurchased 10.1 million shares of its common stock under this program during 2000 at an aggregate cost of $169 million.

Competitive returns maintained in 2000, with return on average equity of 32% and return on average assets of 16%.

Ross plans to accelerate store expansion with a target of 650 locations by the end of 2005. A total of 35 to 40 net new stores are forecast to open in 2001 and another 40 to 50 net new stores in 2002.

New market entry expected to begin in 2001. Up to one-third of all new stores in 2001 and 2002 will open in Georgia, North Carolina and South Carolina, the company's first major new market since 1994.

Ross is building a platform for future growth with planned infrastructure investments that include a new distribution center, transportation management system, financial applications and updated store systems.