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Ross Stores cancels merchandise orders

Mar. 26, 2020 3:17 PM ETROST, RL, SKX, ADDYYBy: Clark Schultz, SA News Editor9 Comments
  • Ross Stores (ROST +4.1%) tells vendors that it's canceling merchandise purchase orders through June 18 due to the impact of the pandemic on its business.
  • "This is the first time in our history that we are unable to deliver exceptional merchandise to our customers," states a memo seen by Reuters.
  • The discount store operator said it would also extend payment terms on all existing merchandise payables by 90 days.
  • Adidas (OTCQX:ADDYY), Skechers (NYSE:SKX) and Ralph Lauren (NYSE:RL) are just a few of the brands with items sold at Ross stores.

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