Why TJX Companies Could Be a Surprise Coronavirus Winner
TJX Companies (NYSE: TJX), the parent of TJ Maxx, Marshall's, and Home Goods, is the most valuable apparel retailer in the U.S.
The company's off-price strategy has been an overwhelming success over the last decade, as TJX has posted consistently strong comparable sales, and peers like Ross Stores and Burlington Stores have performed well too, showing the advantages of the off-price model.
However, the coronavirus pandemic has hammered brick-and-mortar retailers hard. TJX was forced to shut down all of its U.S. stores and even closed down its website. Revenue fell by more than 50% to $4.4 billion in the first quarter.
Source Fool.com
