Is TJX Companies Stock a Buy?
The COVID-19 pandemic has wreaked havoc in the retail sector as store closures were mandated and consumer purchasing shifted online. Already struggling mall stores found they couldn't make it, and venerable retail giants like Neiman Marcus and J.C. Penney declared bankruptcy.
But off-price stores like TJX Companies (NYSE: TJX) can flourish in this environment thanks to lessons learned during other sharp economic downturns.
TJX, which owns off-price retailers TJ Maxx, Marshalls, and HomeGoods, had a horrible first quarter in which revenues were slashed by about half year over year.
Source Fool.com
