The 'off-price' boom: Retail giant announces $2.5B buyback as discount shopping surges

Even as higher-end department stores struggle, off-price retail is thriving, showing that Americans are still spending, just more selectively.

TJX Companies – which owns TJ Maxx, Marshalls and HomeGoods – blew past Wall Street expectations in its fourth quarter earnings report Wednesday morning.

Sales surged 9% year-over-year to $17.7 billion in the fourth quarter, with comparable store sales up 5%. TJX also boosted its quarterly dividend 13% to 48 cents per share, and brought in a...