Ross overtakes TJX in off-price comparable sales race

Ross Stores reported comparable store sales growth of 10% in its second quarter, according to Retail Dive, a marked contrast with slower growth at TJX Companies, the parent of TJ Maxx and Marshalls and long considered the benchmark in off-price retail. Ross attributed the gain to a mix of new and returning customers, suggesting the chain is winning share rather than simply riding a broader industry tailwind.

The shift matters beyond the discount aisle. Off-price retail has increasingly become a release valve for excess inventory from premium and even luxury-adjacent brands, and strong performance at Ross signals healthy demand for branded goods at reduced prices even as full-price retail faces a more cautious consumer. It also indicates that shoppers who traded down during recent periods of inflation are not uniformly trading back up, and that value-conscious behaviour has become durable rather than purely cyclical.

For premium and luxury brands that rely on off-price channels to manage markdowns without diluting their primary retail presence, a stronger and more competitive off-price sector gives them more leverage in negotiating placement and terms. What to watch is whether TJX responds with sharper pricing or marketing to close the gap, and whether Ross's momentum holds through the autumn as back-to-school spending gives way to holiday buying.

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