Ross, TJX Remain Competitive: CNN

Discount sellers like Ross (Dublin, Calif.) and TJ Maxx, owned by TJX Cos. (Framingham, Mass.), are continuing to ramp up new stores in the face of rising competition from online sellers like Amazon, and their annual same-store sales justify it, according to CNNMoney.

This year, Ross plans to add 70 additional stores, with plans to eventually add 1000 stores to its 1500 fleet. Similarly, TJX Cos. plans to open an additional 238 stores this year, including TJ Maxx, Marshalls and HomeGoods, along with 40 additional Burlington stores. CNNMoney asserts that the retailers are “untouchable” by Amazon, despite their avoidance of e-commerce. Their success, it said, is in the flexibility of their purchasing strategy of both retailers, along with their steep discounts, with items averaging $10 and most items selling for less than $30. Both attributes would be difficult or impossible to replicate in online storefronts, said Simeon Siegel, a retail analyst for Nomura Group.

Ross reported $14 billion in sales last year, just behind TJX within the off-price category, in its 13th consecutive year of growth. The same analyst said he does not expect growth for both companies to stall in the near future. "There's no stigma in shopping off-price anymore," Siegel said. "Whether it's a sign of the times, a millennial desire, or great marketing by TJ and their fashionista, off-price is more than expected – it's appreciated."