Who Owns Ross Stores? The 2026 Guide to Shareholders and Leadership

If you’ve ever scored a name-brand pair of shoes for 60% off at Ross Dress for Less, you might have wondered: who is the mastermind behind these deals? Who owns Ross Stores?

The short answer is that Ross Stores is not owned by a single person or a private family. Instead, it is a publicly-traded company officially known as Ross Stores, Inc. (trading on the NASDAQ under the ticker ROST). Because it is public, the company is owned by thousands of individual and institutional shareholders across the globe.

As of early 2026, the largest "owners" are massive investment firms like The Vanguard Group and BlackRock, who hold significant stakes on behalf of their clients. While the original founder, Morris Ross, started the journey in 1950, the company today is an S&P 500 powerhouse governed by a Board of Directors and a professional executive team.

The Parent Company: Ross Stores, Inc.

Ross Stores, Inc. acts as the parent organization for two major retail banners that dominate the discount space:

1. Ross Dress for Less: The flagship brand and the largest off-price apparel and home fashion chain in the U.S.

2. dd’s DISCOUNTS: A sister chain focusing on even deeper bargains for more moderately-priced brands.

Headquartered in Dublin, California, the parent company manages everything from a massive distribution network to a flexible purchasing strategy that allows them to buy excess designer inventory at "throwaway prices"—savings they pass directly to you.

The Top Shareholders: Who Owns the Most Shares in 2026?

Since Ross is a public entity, "ownership" is measured by who holds the most stock. The company’s ownership structure is heavily dominated by institutional investors, which is a sign of strong market confidence.

1. The Vanguard Group

As of the most recent filings leading into 2026, The Vanguard Group remains the largest shareholder, holding approximately 11.9% of the company (roughly 38.5 million shares). This makes them the most influential voice in the room during shareholder votes.

2. BlackRock, Inc.

BlackRock follows closely as the second-largest owner, with a stake of approximately 5.07%. Along with other major players like State Street and JPMorgan Chase, these three firms alone control a massive portion of Ross Stores’ future.

3. Individual and Insider Owners

While institutions own the bulk, company "insiders"—the executives who run the day-to-day operations—also own a percentage of the business.

• George Orban: A longtime director and former Chairman, Orban remains one of the largest individual shareholders with over 10 million shares.

• The Executive Team: CEO Jim Conroy and other top officers hold significant shares, ensuring their interests are aligned with the company’s success.

2026 Leadership Transition: A New Era at Ross Stores

While institutional shareholders own the "paper," the people who actually steer the ship are undergoing a major transition. As of January 2026, Ross Stores is completing one of the most significant leadership handovers in its history.

The New Board Chairman: K. Gunnar Bjorklund

Effective February 1, 2026, K. Gunnar Bjorklund officially takes over as the Chairman of the Board. 

He succeeds Michael Balmuth, a legendary figure who led Ross for nearly three decades, growing it from a 300-store regional player into a 2,200+ store national powerhouse. Bjorklund, who has been on the board since 2003, brings deep institutional knowledge to the role, ensuring that the "Ross way" of doing business remains intact.

The CEO: Jim Conroy

In the executive office, James (Jim) Conroy took the reins as CEO on February 2, 2025, succeeding Barbara Rentler. Coming from a successful tenure at Boot Barn, Conroy has been tasked with maintaining the company’s aggressive growth. 

Under his leadership in 2025 and 2026, Ross has managed to scale to 2,273 locations while keeping same-store sales growth strong—a difficult feat in a volatile retail economy.

The "Off-Price" Secret: Why Ross is Winning

To understand why Ross Stores is so valuable to shareholders, you have to understand their Off-Price Business Model. Unlike traditional department stores (like Macy’s or Kohl's), Ross doesn't follow a seasonal calendar.

1. Opportunistic Buying

Ross employs a "flexible purchasing strategy." When major brands overproduce an item or a department store cancels an order, Ross buyers step in with cash. They buy this excess inventory at a fraction of the original cost. This is why you can find a $100 designer jacket for $39.99.

2. The "No-Frills" Shopping Experience

Ross is famous for its "no-frills" approach. They spend very little on fancy store displays, mood lighting, or expensive fitting rooms. By keeping operating costs extremely low and refusing to run an e-commerce site (which carries high shipping and return costs), they can pass those savings directly to the customer.

3. The Treasure Hunt Strategy

Because their inventory changes daily based on what they can buy from manufacturers, every visit to a Ross store is a "treasure hunt." This creates a sense of urgency for the customer: "If I don't buy this pair of sneakers now, they'll be gone by tomorrow." This strategy keeps foot traffic high and inventory moving fast.

Ross Stores vs. The Competition

People often confuse Ross with its rivals, but they are entirely separate entities. Here is how they stack up:

Feature	Ross Stores, Inc.	TJX Companies	Burlington Stores
Banners	Ross Dress for Less, dd's DISCOUNTS	T.J. Maxx, Marshalls, HomeGoods	Burlington
Store Count	2,273+	4,900+	1,000+
E-commerce	None (In-store only)	Limited	None
Strategy	Ultra-low cost, high volume	High-end designer focus	Focus on family apparel

The History of Ross Stores: From One Shop to 2,273

The journey to becoming a multibillion-dollar giant didn't happen overnight. It is a story of two different eras of retail.

1. The Morris Ross Era (1950–1958)

The origins of the brand trace back to 1950, when Morris "Morrie" Ross opened the first Ross Department Store in San Bruno, California. Morrie was a classic entrepreneur, reportedly working 85 hours a week to handle everything from floor sales to the company’s bookkeeping. In 1958, he sold his small chain to William Isackson to pursue real estate, leaving a foundation of local success.

2. The Strategic Pivot (1982–1985)

The Ross we know today was actually "born" in 1982. A group of investors led by Stuart Moldaw (the founder of Mervyn’s) and Don Rowlett purchased the existing six stores. They recognized that the future of retail wasn't in traditional department stores, but in the off-price model. Within just three years, they grew the chain from six stores to 107.

3. Going Public (1985–Present)

To fund their massive national expansion, Ross Stores, Inc. launched its Initial Public Offering (IPO) on August 8, 1985. This was the moment ownership shifted from private investors to the public market. Since then, the company has seen consistent growth, surviving multiple recessions by offering the one thing everyone wants: value.

Debunking Common Myths: Who Does NOT Own Ross?

Because of its massive presence, several rumors have circulated about the company's ownership. Let's set the record straight:

• Myth: Ross is owned by TJ Maxx/Marshalls.

  • Truth: This is the most common misconception. While they are competitors, TJ Maxx and Marshalls are owned by The TJX Companies, Inc. Ross Stores, Inc. is a completely separate, independent corporation.

• Myth: Ross is a Chinese-owned company.

  • Truth: Ross Stores, Inc. is an American company headquartered in Dublin, California. While they source products globally, the ownership is held primarily by American institutional investors like Vanguard and BlackRock.

• Myth: The Ross family still runs the business.

  • Truth: Morris Ross sold his interest in 1958. No members of the Ross family have had an ownership stake or management role in the company for over 60 years.

Conclusion: A Model of Public Success

When you ask "who owns Ross Stores," you aren't looking at a single face or a wealthy family. You are looking at a masterclass in public corporate governance. By staying independent and focusing on its core "No-Frills" mission, Ross Stores, Inc. has turned its shareholders into some of the most successful investors in retail history.

With a long-term goal of reaching 3,600 total locations (2,900 Ross and 700 dd's), the ownership structure of Ross Stores is designed for one thing: stable, long-term growth. Whether you are a shopper looking for a bargain or an investor looking for a retail powerhouse, Ross remains a dominant force in the American economy.