Discount chains Ross, T.J. Maxx, and Burlington are planning to add more than 300 new stores. Here's why major retailers should be nervous about their growing off-price rivals.
haven't changed Ross' plans for 2023,"historically, any time there's retail bankruptcies, that's provided us opportunities for new store locations."
"All we have to do there is weather the storm and keep HomeGoods and our Marmaxx business going," Ernie Herrman, TJX's CEO, said during the call."And we think we'd come out the other side here, and even a bigger player in fashion and home business than anybody thought we would be." Analysts see a banner year ahead for Burlington
After misfires in 2022, the company delivered strong fourth-quarter results and is making strides in its"Burlington 2.0" strategy that could"unlock the full potential of the off-price model," according to a group of Morgan Stanley analysts led by Alex Straton and Kimberly Greenberger. Burlington is now set up to"close the productivity gap to peers" through six key components of the strategy, the Morgan Stanley analysts wrote: Pivoting to chasing in-season inventory Insuring operational flexibility through strong merchant relationships and supply chain managementThe brand has already made changes to its product array and store design.
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