By Randy Harris, President of Trendex North America
TJX Canada continued in 2017 to expand its dominance of the Canadian Apparel Market thanks to the increase in its apparel sales coupled with the disappointing performance of Walmart Canada, the country’s second largest apparel retailer. Trendex estimates that TJX’s apparel sales totaled C$2,942 million in 2017, an 11% increase over its 2016 sales. Winners, the country’s largest apparel retailer, recorded a 6.2% sales increase last year. (So, who said you have to sell online to be successful?)
In total, TJX Canada’s sales during 2017 increased 14.9% to US$3.6 billion. Undoubtedly part of the conglomerates increase was due to its adding 36 new stores. Winners store count increased by 9 to 264, while Marshalls added 16 stores and ended the year with 73 stores. (Note, Trendex is now officially admitting that it was wrong when it forecasted three years ago that Marshalls would eventually never come close to operating 100 stores in Canada.) Whether the opening of Nordstrom’s Rack in Canada this year will effect TJX Canada in the short-term is questionable as it seemed that Off Fifth had minimal effect on TJX’s 2017 apparel sales. Undoubtedly TJX has, and will continue to benefit from Sears Canada’s demise. However, in the long-term the question, asked but not answered, is to what degree will Canada’s love affair with off-price apparel retailing continue?
*Article is taken from Trendex’s monthly Newsletter available at http://www.trendexna.com/can-apparel-insights
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Randy Harris is president and owner of Trendex North America, Inc., one of North America’s largest marketing research and consulting firms specializing in the Canadian and Mexican apparel markets. As owner of this Toledo, Ohio based company; his area of specialization is the NAFTA apparel market. Follow Trendex North America, Inc. on Twitter at @Trendexnainfo