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New TJX Chain Likely To Put More Hurt On Department Stores

The off-price chains that make up TJX Companies are frequently brought up as a competitive factor to explain the struggles department stores have had in recent years. With last week’s news that the company is planning to launch a new off-price chain of home good stores, department stores may face worse struggles ahead. “People love to hunt for bargains and TJX’s growth and results are a testament to this,” said Mark Ryski, CEO and founder at HeadCount Corporation. “At first blush, it’s reasonable to question the move of launching another home goods chain, but given the success TJX has had in bringing similar concepts to market successfully, I wouldn’t bet against them.” Read the article