Robin Tavares’ Post

TJX Companies Thrive Amid Retail Shifts: A Strategic Edge in Supplier Relations As traditional retailers like Macy’s reduce their physical presence, TJX Companies (parent of T.J. Maxx, Marshalls, HomeGoods) is enhancing its connections with suppliers, benefiting from reduced competition and potentially higher merchandise margins. CEO Ernie Herrman attributes this to their growing importance to vendors as other brick-and-mortar stores close. TJX’s robust supply chain and strategic buyer-vendor relationships have been pivotal, with the company reporting a 9% increase in annual sales to $54.2 billion. This success is underpinned by a sophisticated purchasing team and a competitive advantage in offering diverse, high-quality brands at discounted prices, creating a unique shopping experience. Analysts highlight TJX's increased business with vendors and its ability to capitalize on the current retail environment, ensuring a steady flow of desirable merchandise. #RetailInnovation #SupplierRelations #TJXSuccess #StrategicGrowth #ECommerceLeaders https://lnkd.in/exnHzPgn

Off-Price Treasure Hunt: TJX's Expansion Plans Amidst Retail Shifts TJX, the world's largest off-price retailer, plans to expand its global footprint by 1,300 stores. This growth is likely due in part to department store closures. TJX operates Marshalls, HomeGoods, and Sierra stores. Analysts predict continued growth for the company. Here are some key points from the article: -TJX is the world's largest off-price retailer, with over 4,500 stores in 9 countries. -The company plans to expand its global footprint by 1,300 stores over the next five years. *This growth is likely due in part to department store closures, which have created opportunities for off-price retailers. -TJX operates Marshalls, HomeGoods, and Sierra stores, which offer a wide variety of discounted merchandise. -Analysts predict continued growth for TJX, as the company benefits from its strong brand recognition, loyal customer base, and experienced management team. #retail #treasure_hunt_strategy #retail_math #GMROI

A lot of factors go into the success of TJX Cos.'s off-price retailers, including their own superb execution and buying talents; the decline of department stores, which has been kicking market share and merchandise to off-price; and the pullback on discretionary spending, sending consumers of various income levels to seek out discounts. TJX is already the largest off-price retail conglomerate in the world (running several banners across the globe), yet analysts -- and the company itself -- see room for growth. And that includes *more brick-and-mortar stores.*

As Macy’s and others close stores, TJX is picking up the supplier base #cre #commercialrealestate #goodmanre #TJX #TJMAXX #retailers #retail #retailnews #retailrealestate #retailindustry #realestate

Changes at Macy's are opening up opportunities for other retailers to set themselves up for growth. According to a recent report from Retail Dive, one indirect byproduct of all the store closures is the increasing importance of the vendor community for merchants amidst less brick-and-mortar competition. Read more about how this shift is affecting the industry here: https://lnkd.in/gwJWGURk

The TJX Factor - resonating with consumers and positioned to take more share of wallet. Excerpts: Dive Brief: TJX Cos, which runs more than 4,900 stores spanning nine countries, could expand its global fleet by 1,300 or more additional locations, CEO Ernie Herrman told analysts on Wednesday. Dive Insight: If tens of thousands of stores close in the next five years as some analysts foresee, they’re unlikely to be off-price stores nor, specifically, stores run by TJX’s banners. In fact, the company has potential for growth, despite already being, according to Bank of America analysts, the world’s largest off-price retailer. “Longer term, we see the potential for global square footage growth across multiple concepts,” Bank of America analysts Lorraine Hutchinson and Melanie Nuñez said Thursday. There are various reasons for TJX’s capacity to expand its global fleet, including imminent department store closures, most notably Macy’s. In the U.S. and Canada, as department stores close, especially in areas where it doesn’t already run stores, the company sees opportunity to expand, Klinger said in February. “One of the things that’s happening with all the store closures is the importance to the vendor community keeps rising for our merchants amidst less brick-and-mortar competition,” Herrman said on the February call. #TJX #offprice #retail

For #suppliers, physical stores matter just as they do to a retailer, as both a sales channel and a way to put their brand in front of customers. As retailers like Macy’s continue shrinking their physical footprints, off-price retailer #TJX Cos. expects to deepen its relationship with the industry’s supplier base. #retail #procurement #supplychain

It isn’t surprising that more and more vendors are flocking to off-price retailers like TJMaxx as traditional department stores like Macy's close doors and see lower traffic. We know that the majority of clothing we see in Winners and Marshall are actually made for their stores and aren’t just opportunistic excess inventory. There still is the odd designer product that crops up at TJMaxx Winner's and MARSHALLS LLC but for the most part there is produced for the chains. The gap between mid priced and off price continues to grow. Consumers always want a deal perhaps trained off the Amazon mindset which is troubling for the future of department stores. Yes in-store experience counts but consumers will always opt for the deal. #retailing #offpricerretail #discountretail #departmentstore

Macy's store closures could spell gains for off-price retailers, with TJX Companies, parent of T.J. Maxx, poised to benefit significantly. Analysts predict a 'few billions of dollars' in potential sales shifting towards off-price giants as Macy’s trims its footprint. With a high overlap in customer base and store locations between Macy’s and TJX's T.J. Maxx and Marshalls, the off-price sector could see a further boost in market share, continuing its ascent in the retail landscape. Follow the link to read more! https://buff.ly/4atGX8X #RetailTrends #Macy’s #OffPriceRetail #TJX

The Ripple Effect of Macy's Closures: A Boost for Off-Price Retailers ·      Macy's closures of 150 stores over 5 years are expected to benefit off-price retailers, particularly TJX (T.J. Maxx), according to analysts. ·      Proximity plays a significant role, with 63% of Macy's stores located near a T.J. Maxx or Marshalls, creating a share gain opportunity for TJX. ·      Demographic similarities between Macy's and TJX customers, including a significant overlap in high-income households, further support this trend. ·      Earnest credit card data shows a third of Macy's customers already shop at T.J. Maxx, Kohl's, and Marshalls, with T.J. Maxx leading in customer overlap. ·      Macy's closure plans are expected to accelerate the shift of market share towards off-price retail, with TJX poised to benefit as a key player in this evolving landscape. One man's loss is another man's gain - Proverbs #retailstrategy #macys #tjx