TJX reported annual sales of just under $31 billion today, compared to $27 billion at Macy's.
In response to a wave of class-action lawsuits, retailers have made one thing clear: discount prices can be a lot more complicated than shoppers expect.
In 2011 Americans were shocked as big retailers opened their stores at midnight on Thanksgiving. Now the same stores will open in the middle of the cherished national holiday.
Macy's has announced four locations for its new "off-price" chain, Macy's Backstage. The stores, which will open this fall, will be similar to T.J. Maxx and Nordstrom Rack.
The "off-price" channel, home of discounted designer goods, is the place to be in retail. Macy's plans to pilot a new off-price chain as well as expand its Bloomingdale's outlet locations.
TJX is pulling in more in annual sales than most department stores in America, including J.C. Penney, Sears and Nordstrom.
Vera Bradley, TJX, and American Eagle will be impacted the most based on their store count in the Northeast and Midwest, Citigroup analysts say.
Because people, especially young ones, are very into brands at a discount.