Sadie Keljikian, Top Billion Finance
TJ Maxx seems to be resilient to the current blight on retail in the US.
Many brick and mortar retailers have been bleeding money for some time now, many of them unable to keep up with the demanded variety and advancing technology within the in-store format. Some fast-fashion retailers are managing to scrape by, but most mid-level and luxury brands are facing closures and even bankruptcy.
TJ Maxx, however, appears to be an exception to this trend. Experts attribute the chain’s success to its somewhat unique model, which is reminiscent of a different era in retail shopping. TJ Maxx has a rich network of buyers, all of whom seek out relatively small quantities of discounted items, which constantly change in each of its (approximately) 3,800 retail locations. The result is, as Wall Street Journal describes, “a constant treasure hunt.”
TJ Maxx continues to succeed, exceeding Nordstrom and J.C. Penney combined in sales and maintaining a market value almost seven times that of Macy’s.
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