This is more than a cyclical rebound. It signals a structural shift in consumer spending and, increasingly, in how brands manage surplus inventory. More excess merchandise is finding its way into value channels, giving off-price retailers greater influence over apparel pricing and inventory flows.
Chart *: Off-price comparable-store sales growth vs. the US clothing-store benchmark.
Source: TJX Q* FY** release (May **, ****) ; Ross Stores Q* FY** *-K (May **, ****) ; Burlington Q* FY** release (May **, ****); Citi Trends *-K Ex **.* (August **, ****) ; US Census MARTS (July **, ****)
