As consumer spending slows, TJX is the off-price retailer to own
Fresh economic data Wednesday showed U.S. consumer spending slowed during the holiday season as inflation, though easing, continued to squeeze shoppers. That's likely to make off-price retailers like Club holding TJX Companies (TJX) even more attractive to many Americans looking for cost-saving deals in the new year. Total retail sales in the U.S. dropped 1.1% in December month-on-month, the Commerce Department said Wednesday, in the second consecutive monthly decline. Retail sales had fallen by 1% in November. The…