Traditional retailers industry-wide are blaming shifting consumer tastes, digital options and new competitors for not only stealing their wallet share, but for declining foot traffic and related sales. However, this could not be farther from the truth for TJX Cos.
The off-price giant operated more than 3,800 stores at the end of 2016, and has a long-term vision to expand its store base by approximately 50%, to 5,600 stores. TJX plans to expand its breadth solely by focusing on its current chains and markets, the company said.
However, the company credits its success to more grassroots factors. One of these includes the instincts of merchandise buyers who are picking merchandise that creates a constant treasure hunt. The company employs more than 1,000 buyers who purchase apparel and merchandise across other categories from more than 18,000 suppliers around the globe, according to the Wall Street Journal….