Target/TJX: retail’s inventory problem is an opportunity for off-price stores

Good inventory management is the same as brushing your teeth. It is boring, but if you do not do it properly the consequences are dire. 

For US retailers such as Target, excess inventories have become a multibillion dollar headache. They scrambled to keep shelves stocked during the pandemic. Some even chartered their own cargo ships to bypass supply chain bottlenecks. They now find themselves stuck with a glut of goods they cannot…