Why Shares of TJX Companies Look Appealing
TJX Companies (NYSE: TJX) is an off-price retailer that will continue to do well in the current state of economic uncertainty. The company, which owns T.J. Maxx, Marshalls, HomeGoods, and other retail outfits, is seeing a nice rebound in its business following its store shutdowns earlier this year. Its "value hunt" format has long resonated with shoppers, and it has the opportunity to gain market share as competitors struggle.
As of May 21, the specialty retailer had reopened over 1,600 of its stores. For the 1,100 stores that had been open for at least a week, sales were higher year over year in all countries and states. This is a promising start for the retailer as it gets back to normal after COVID-19-related shutdowns that began in mid-March. The retailer is also adding new stores to its roster, increasing its store count by 16 to 4,545 stores by the end of the first quarter (May 1).
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Source Fool.com
