TJX sales may surge in 2023 on bargain hunting for top fashion brands
TJX Cos Inc is likely to see a strong growth in annual sales as inflation pushes bargain-hungry but brand-conscious customers to off-price retailers offering cheaper deals and promotions.
The expected surge in demand for companies such as TJX, Ross StoresBurlington
But their spending spree took a blow from soaring prices, forcing a large section of customers to curb their purchase of discretionary items such as high-end apparel.
“Off-prices are a great place to get branded merchandise at much cheaper prices than you would get at the department store or other full price retailers,” Edward Jones
The context
But heaving discounting may not be enough. Rising demand for cheaper branded items, analysts say, could put to test the ability of off-price stores to offer a good mix of high-end products such as BalenciagaGucciVersace
A case in point is NordstromRack
Jessica Ramirez
“TJX is very strong with their assortment … they have been able to bring a lot of good names into their product offerings,” she said.
