TJX - TJX Just Closed a Major Section of Its Online Business. Should Investors Be Worried?
2023-12-14 05:35:00 ET
The internet changed everything for the retail sector, with technology giants like Amazon completely altering how consumers shop. Retailers have had to adjust, opening their own online stores to be where customers are shopping -- offering a so-called omnichannel experience. TJX Companies (NYSE: TJX) is no different from other retailers in this regard.
But the discount retailer just made clear that all stores don't belong online.
When Amazon came onto the scene as an upstart online bookseller, the normal way for consumers to get books was to browse through a physical bookstore. Buying a book online was easier and less expensive and could be done from home. Many small booksellers (and even some large ones) were eventually forced out of business. Even bookstore giant Barnes & Noble ended up resetting its business. Although the impact on other retailer sectors hasn't been quite as dramatic, the advent of online shopping has radically changed the retail picture. It's now almost mandatory to talk about being an omnichannel retailer.
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TJX Just Closed a Major Section of Its Online Business. Should Investors Be Worried?