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Ross Stores: Your New Gucci & Hoka Destination?
10 Jan
Summary
- Ross is stocking luxury brands like Gucci and Hoka, surprising shoppers.
- These high-end items are offered at significant discounts compared to retail.
- The retailer focuses on value, sourcing surplus and past-season inventory.
Ross Stores is increasingly featuring high-end brands such as Gucci and Hoka, offering customers unexpected luxury bargains. Shoppers have discovered items like Gucci sunglasses for under $200 and Hoka running shoes significantly cheaper than online prices. This shift aligns with consumer priorities for value, even amidst easing inflation.
The off-price retailer, known for its constantly changing selection, sources goods that brands or other retailers cannot sell, such as surplus inventory or past-season lines. This "treasure-hunt experience" is being amplified by a deliberate effort, ongoing for approximately a year, to source more name-brand products. Previously, the company prioritized more profitable, lesser-known brands.
This strategy has reportedly boosted sales, particularly in women's apparel and accessories, and has exceeded analysts' expectations. Other off-price retailers like TJX are also benefiting from increased product availability due to global trade dynamics. Ross' CEO highlighted "exceptional product availability" and strong customer engagement due to the updated, value-focused assortment.
