For one, TJX has a few fortuitous tailwinds. Manufacturers over-acquired raw goods earlier this year to stock up for tariff-related price increases. That's ideal for TJX, which buys products cheaply when other companies overproduce. But, also, TJX is not a retail media player whatsoever and cares way more about in-store sales than it does about ecommerce. In-person is simply a more exciting shopping experience, CEO Ernie Herrman told investors during the company's quarterly earnings call last week.
Like Aldi's locations, Grocery Outlet stores tend to be smaller than traditional supermarkets and emphasize low prices. But the California chain doesn't rely solely on store brands to cut costs: Like T.J. Maxx, it often sells products that its competitors - or the brands that make them - can't or don't want to sell themselves. Those can include products that are being discontinued by their manufacturer or items that were meant for other industries.
