Bidinflation: TJ Maxx Raising Prices On Upscale Brands

(New York, NY) — TJ Maxx is raising prices on some of its upscale brands. The retailer has been very popular during the pandemic with shoppers looking to get a deal on designer brands. The price increases come as a result of multiple pandemic-related factors. Less product on the shelves due to the global supply chain crisis, pent-up demand from customers and paying workers higher prices to combat the worker shortage left TJ Maxx and its sister companies with a financial gap to fill. The company didn’t specify which brands saw price increases, but CEO Ernie Herrman reported expected shopper pushback never came.