TJX reported an increase in earnings earlier Wednesday on strong holiday sales.
“They had a really solid quarter, with a 7 percent increase in same-store sales,” the analyst said, with February looking strong so far as well.
One area where competition isn’t as strong — intimate apparel, and that’s why Greenberger’s top retail pick is Limited Brands, whose stores include Victoria’s Secret.
“Victoria’s Secret has done a great job of shortening its supply chain” to give customers the products for which they clamor, Greenberger said. Limited Brands reports earnings Thursday.
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Neither Kimberly Greenberger nor Morgan Stanley own shares of TJX and Limited, but Morgan Stanley has an investment banking relationship with the companies and makes a market in their stocks.