Off-price retailers’ share prices are holding up remarkably well despite a dismal last quarter, a testament to their postrecession track record. Investors should still approach them with some caution.
Both TJX and Ross Stores said they lost more than half of their sales in the quarter ending May 2 compared to a year ago. You wouldn’t guess that from their share prices, which are down a fair amount from the start of year, but still basically flat from one year ago.
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