Can TJX's Treasure-Hunt Experience Work With E-Commerce?
The TJX Companies (NYSE: TJX) recently launched the first e-commerce store for its off-price Marshalls chain. Considering that its sibling T.J. Maxx already has an online shopping site -- and many discount retailers and even dollar stores offer customers a way to shop online -- you could ask: What took Marshalls so long?
Up until now, and probably even still, Marshalls hasn't needed an e-commerce arm. The off-price clothing duo represented by TJX's MarMaxx segment has enjoyed strong results. Sales were up 4% year over year in the second quarter on a 2% increase in comparable-store sales, with total revenue up 6% in the first half of fiscal 2020. That continues the trend of healthy sales growth of 9% in fiscal 2019 and 8% the year prior with comps up 6% and 2%, respectively.
Bringing an e-commerce operation online hasn't been a necessity, and in the discount segment, it's a relatively recent phenomenon.
Source Fool.com
