Off-price retailers will get a bump from Macy’s’ on-going plans to close some 100 stores, according to a note from BMO Capital Markets apparel and retail analyst John Morris. Burlington Coat Factory, which has 47 stores within five miles of a Macy’s slated for closure, will be a prime beneficiary, CNBC reports.
Off-price stores run by Burlington, TJX Cos. and Ross could snap up 40% of the $575 million in revenue that those closures will leave on the table, Morris estimates.
