Can Retailers Compete With Off-Price?

It seems like everyone is going off-price these days. Retailers from Macy’s and Kohl’s to The Limited and Lord & Taylor have all announced their own off-price stores since late 2015. The retailers are entering a crowded market, with top dogs TJX Cos., parent of TJ Maxx and Marshalls, and Nordstrom Rack operating more than 3,800 stores combined. Another off-price retailer, Ross Stores, recently announced that it will add around 90 new stores this year, with plans to grow to around 2,500 locations “over time.” With traditional brick-and-mortar retailers closing stores and seemingly entering bankruptcy every month, the idea of launching new stores in a challenging environment seems audacious at best. But retailers have good reason for betting big on the off-price concept. Read more at Retail Dive.