Can TJX keep playing the hot hand?

RetailWire panelists reflected recently on the huge growth of TJX, which has surpassed many of the best-known names in American retailing. My point of view is that the off-pricer’s success is part of a larger narrative:

The growth of TJX is part of a 50-year cycle (with no end in sight) in which the retailer offering better value and other sustainable advantages takes share away from the mid-tier retailer. First it was Sears in the 60’s and 70’s, then the national growth of discounters like Target and Walmart, then the big box specialists, and now the off-pricers. No reason to believe this trend won’t continue, with the added twist of web-only powerhouses like Amazon. TJX is dealing with a hot hand right now, but history suggests that a new format will emerge within another ten years or so.

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