T.J. Maxx thriving in tricky market

Endaba Group

Consumers’ love for off-price shopping is shaking up the clothing industry! T.J. Maxx reported roaring first-quarter earnings, with revenue increasing 10% to $7.5bn. This news follows disappointing results from the heavyweights Macy’s, Kohl’s and Nordstrom. TJX’s sales has been put down to a surge in store footfall, with their promise of low-cost named brands in a treasure-hunt experience. This model is becoming a popular option to revive department stores, who are now becoming increasingly reliant on their off-price outlets such as Saks Off 5th and Nordstrom Rack.