Pro Analysis

Goldman sees this discount retailer benefiting as malls suffer

A T.J. Maxx store in Cincinnati
Ty Wright | Bloomberg | Getty Images
A T.J. Maxx store in Cincinnati

Goldman Sachs added shares of off-price retailer TJX to its Americas Conviction List, saying the owner of T.J. Maxx and HomeGoods will be one of the rare brick-and-mortar beneficiaries of the decline of the American mall.

"We view TJX as a secular winner in apparel, growing market share at the expense of department stores, and a key beneficiary of the unraveling of the regional mall," said the note from Goldman on Thursday.