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Off-Price Retailers Still Have Room to Grow

We have been tracking the off-price channel closely this year as this channel continues to experience growth, while other retail channels are failing to report positive sales.

The off-price retailers are attracting more than one demographic with their buy now – wear now assortments and low prices. And as 2016 has been noted to be a year of cautious spending by consumers, we expect this channel to continue to see increases.

We recently shopped Burlington (NYSE:BURL) and noted that even though the in-store experience may not be as sophisticated as their competitors Nordstrom Rack (NYSE: JWN) or TJ MAXX and Marshalls (NYSE:TJX) they do have a focus on key categories. Some of those key categories include baby, activewear, menswear, footwear, gifting and designer brands.

While we believe BURL’s in-store shopping experience can still improve, their online experience is very much on point. With the holidays approaching and e-commerce to be a key driver during Q4, we would expect their online business to continue a positive trajectory.

As the off-price channel is expected to grow, the off-price retailers are expanding their store count. BURL will be adding 80 stores this year; Ross Stores (NASDAQ: ROST), T.J. Maxx and Marshalls want to open 40 to 60 new stores each this year; and Nordstrom Rack is planning to open 35 stores.

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