1407 ET - Canadians are looking for value wherever they can, and in apparel it's no different. The trend born out of the runaway inflation of the pandemic has forced households to seek cheaper alternatives for their discretionary spend and daily needs. While core U.S. sales stumbled at TJX's Marmaxx unit, TJX Canada delivered a 6% same-store sales jump, driven by surging foot traffic at Winners, Marshalls and HomeSense. As TJX CEO Ernie Herrman notes on a call, Canadian operations continue to "gain major market share." That momentum mirrors a broader retail shift across the country: the same desire to stretch their dollars is driving more shoppers to Dollarama and discount grocery banners like Loblaw's No Frills, Empire's FreshCo and Metro's Super C.
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At Winners Parent TJX, Canadian Trade-Down Shift Shows Lasting Power
Dow Jones02:07
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