The 2008 financial crisis, the onslaught of low-priced fast fashion, the proliferation of outlet centers and off-price retailers such as T.J. Maxx (parent TJX Cos. is No. 117), and the price transparency fostered by e-commerce retailers such as Amazon.com Inc. (No. 1) only deepened that addiction. We all saw what happened to J.C. Penney when it tried to wean shoppers off of those discounts: Customers walked away, and the company lost 24% of its revenue in one year. Meanwhile, Coach Inc.
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