Off-price retailers TJX, Ross to gain market share in holiday season, BofA says

Burlington Stores

27/09/2024 16:53

** Brokerage BofA says off-price retailers, including
Burlington Stores  BURL.N , Ross Stores  ROST.O  and TJX Cos
 TJX.N  will attract budget-strapped consumers with deals on
branded products during the holiday season 
    ** Expects shoppers to spend more around big events,
including the upcoming Thanksgiving week and the week before
Christmas, as they did during the back-to-school season     
    ** Says Ross' ability to take on large quantities of
inventory including less desirable products, makes it easy to
work with brands and vendors, increase its branded offerings
    ** Notes that TJX employs a strategy of higher pricing
successfully, with the retailer having a higher amount of
branded products than other off-price retailers
    ** Brokerage also notes BURL is "fine-tuning" its product
range by clearing out slow-moving products through its summer
clearance sale to focus on increased branded assortment
    ** YTD, BURL stock had risen 45%, ROST rose 10%, and TJX
rose 25% as of Thursday's close

 (Reporting by Neil J Kanatt in Bengaluru)
 ((Neil.JKanatt@thomsonreuters.com;))