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☆ Off-price retailers like TJX and Ross won't be slowing down any time soon — here's why
▼ + stars: | 2024-05-26 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +6 min

Mario Anzuoni | ReutersOff-price retailers like TJX Companies and Ross are still posting sales gains and taking market share from rivals, but it's not just because consumers are under pressure and hunting for value. TJX and Ross both reported fiscal first quarter earnings last week that came in better than Wall Street expected, even as both companies lapped outsize growth from the prior-year period. Ross, which runs Ross Dress for Less and dd's Discounts, posted an 8% jump in sales, bringing revenue to $4.86 billion, compared to estimates of $4.83 billion, according to LSEG. "That's because they're providing consistent value to the consumer – and that's branded consistent value to the consumer at a discount price," said Roach. The dynamic is a bit different at Ross, which has more exposure to the lower- and middle-income consumer than TJX does and competes more on price, said Siegel.

Persons: Mario Anzuoni, Ross, it's, TJ Maxx, they've, Jessica Ramirez, Jane Hali, TJX, they'd, They've, Goldman Sachs, Brooke Roach, John Klinger, Michael Hartshorn, Roach, Simeon Siegel, Siegel, Ernie Herrman Organizations: Maxx, Reuters, TJX, Associates, Wall, Marshalls, CNBC, Walmart, BMO Capital Markets, Brands Locations: Pasadena , California, Homegoods, Ross

☆ Viral ‘courtesy’ letter American Airlines gives flight attendants shows how little they make
▼ + stars: | 2024-05-17 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +5 min

An employment verification letter American Airlines gives to some newly hired flight attendants documenting their salary has been circulating on Reddit, drawing attention to their low wages. The union says that flight attendants’ low salaries compared to top airline executives is a prime example of “corporate greed.”New flight attendants at American Airlines start at $27,000 per year. Robert Isom, the CEO of American Airlines, earned $31.4 million last year — 1,162 times more than a new attendant. American Airlines flight attendants have not gotten a raise since 2019, and the union is escalating its push for a new contract to raise wages. Flight attendants for United Airlines, Alaska Airlines and other carriers are also pushing for new contracts to raise wages.

Persons: haven’t, “, –, Robert Isom, Paul Hartshorn, APFA, Joe Biden, ” Hartshorn, ” Organizations: New, New York CNN, American Airlines, Association of Professional, Nutrition Assistance, SNAP, CNN, United Airlines, Alaska Airlines, Bureau of Labor Statistics, Railway Labor, Board, Airlines, “ Management, Southwest Airlines Locations: New York, Massachusetts

If Mayor Sadiq Khan's plan goes ahead, London's Ultra Low Emission Zone (ULEZ) will become one of the world's largest to tackle air pollution, encompassing 5 million extra people in the capital's leafier and less-connected outer boroughs. London's transport authority says only one in 10 cars in outer London are not ULEZ-compliant. But Khan, who was diagnosed with asthma and wrote a book this year on air pollution and climate change, says he is determined to face down his critics. "But the further away from the city centre you go, the less you can improve air quality," Verbeek added. "It's absolutely critical that even in a cost-of-living crisis we do not kick the can of air pollution down the road and let more children grow up unhealthy and unwell," she said.

Persons: Toby Melville, Sadiq Khan's, Carl Cristina, Cristina, Khan, Thomas Verbeek, Verbeek, Jemima Hartshorn, Teresa O'Neill, I've, Gavin Jones, William James, Andrew Heavens Organizations: REUTERS, Reuters, Delft University of Technology, Thomson Locations: Marble, London, Britain, Europe, Rome, Netherlands

☆ Can’t Repeat the Past? An Immersive ‘Great Gatsby’ Thinks You Can.
▼ + stars: | 2023-06-19 | by ( Alexis Soloski | ) www.nytimes.com time to read: +2 min

The original script was brief, just 35 pages, and the set, created mostly from scavenged furniture, was improvised and minimal. Audiences entered up a fire escape, over the roof and through the back of the building into a replica of a drugstore speakeasy. Scheduled to run for just four weeks in 2015, the production re-emerged in two new spaces the next year. Wright and his producers, Immersive Everywhere, had long wanted to bring the show — which uses both group scenes and more intimate ones and select one-on-one encounters to bring “Gatsby” alive — to New York. To bring this “Gatsby” to the city in which it’s set felt, Wright said, “amazing, inspiring, humbling, a bit intimidating.” It was also challenging.

Persons: Wright, Gatsby, —, Louis Hartshorn, Arnold Rothstein, Meyer, Hartshorn, it’s Organizations: Audiences, Bond, Central Locations: London, Belgium, Ireland, Wales, South Korea, New York

☆ Discount chains Ross, T.J. Maxx, and Burlington are planning to add more than 300 new stores. Here's why major retailers should be nervous about their growing off-price rivals.
▼ + stars: | 2023-03-08 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +5 min

Off-price chains are likely to get a boost in the months ahead as shoppers seek low prices. Ross Stores is planning to open 100 new locations this year, while T.J. Maxx plans 150 openings, and Burlington as many as 80. 2023 is looking like a strong year for off-price chains like Burlington Stores, Ross Stores and T.J. Maxx, as shoppers look to save money where they can. Off-price chains could benefit from retail closures and bankruptciesAs other retailers close swaths of stores nationwide, discounters are expanding. Paul Weaver/SOPA Images/LightRocket via Getty ImagesAnalysts see a banner year ahead for BurlingtonBurlington may be the smallest of the major off-price retailers, but it's poised to have a big year.

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