The near future looks bright for off-price retailers, while department stores will continue to face challenges, according to a recent report from Moody’s Investors Service.
As TJX Companies brings its HomeSense store concept to the U.S. with a total of four locations expected to open this year, the retailer also has larger expansion plans.
The July 17 issue of HOMEWORLD BUSINESS® features the 18th annual Impact Merchants special report. Housewares suppliers, representing the categories that HomeWorld covers, once again were asked to nominate buyers and merchandisers believed to have made a significant impact during the past year.
At the TJX annual meeting, Ernie Herrman, president and CEO of the company, said that it will continue to leverage its business model to generate traffic gains and additional comparable store sales as a means to build the business and boost its value for investors while, at the same time, developing new initiatives.
According to a Moody’s Investors Service sector in depth report, off-price retail’s ability to deliver major label brands at significant discounts to value-hungry consumers will continue to provide a leg up on the competition, with the home business making a contribution.