While many retailers are struggling and closing stores, TJ Maxx is taking advantage of the situation to improve their store locations.
I have written several articles recently about the retail issues forcing stores to close across New York and the United States.
The retail industry has been hit hard of late; over the last month, more than 1400 retail stores have been listed to close, with the possibility of more to come. One of the most affected businesses has been Bed Bath and Beyond, which is closing more than 400 stores nationwide.
These store closures represent an opportunity for competitors seeking to expand, one of which is TJ Maxx.
The discount department store town is taking over the site of a Bed Bath and Beyond store in Watertown, New York, which has recently closed. The TJ Maxx is currently located in the Price Chopper plaza along Arsenal Street but will move to a new location in Towne Center at Watertown.
The store is holding a grand opening on Thursday, March 30, from 8 a.m. to 10 p.m.
It is expected other retail brands, such as Ross Dress for Less, Burlington, and Home Goods, will adopt a similar strategy and look to target stores that have recently closed.
Hopefully this will boost the New York retail industry.
For a full list of recent New York store closures, you can check this article, and to keep up to date with the latest retail and business developments, please ensure you follow me.
Your thoughts
Are you glad to see the TJ Maxx relocate? Would you like to see more retailers move into abandoned stores? Are you confident the retail industry will rebound?
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