Consumer News: Prices going up at TJ Maxx, Victoria’s Secret says it has merchandise stuck in transit and more
CNN– Consumer News with ABC Columbia is presented by Grow Financial.
Bargain shoppers may not be able to land as many deals on those designer brands at TJ Maxx this Black Friday. The CEO of TJX Companies says they have a strategy to surgically raise prices on select items, and it’s working effectively. The price increase is a result of a few pandemic-related factors, including the global supply chain crisis, delays at ports and high demand for product.
If you’re looking to shop at Victoria’s Secret this holiday, you might be out of luck. The company says nearly 50% of its holiday merchandise is stuck in transit. Victoria’s Secret ordered 200 million items for its fourth quarter sales period, but about half of those items are caught up in the supply chain issues and backlogs at U.S. ports. The company’s CEO says 100 ships carrying products are anchored at ports, but they haven’t come ashore.
ABC NEWS– Between heading into your Thanksgiving grocery shopping and Black Friday deals, virtually every piece of your holiday will be costing you a lot more this month. With inflation on the rise, ABC’s Rebecca Jarvis takes a look at just how much this holiday is going to cost you.