TJ Maxx

The retail apocalypse has hit brick-and-mortar retailers hard, but a few firms have been able to escape the clutches of the retail Grim Reaper.

TJX Cos, the parent company of discount retailers Marshalls and TJ Maxx, is one such firm.

In a note out to clients on Wednesday, Morgan Stanley identified TJX Cos as one of the “few high quality” companies in retail.

“In our industry, there are few companies that hit the quality screen of a long-term investment,” the analysts wrote.

“TJX has delivered positive comps and [earnings per share] growth in each of the last 11 years,” they added.

Out of all the firms covered by the bank, only TJX Cos and…