Tom Ott sits down with Nancy Mair, longtime off-price merchant and former Burlington and Nordstrom Rack executive, for a candid conversation on what’s driving the category’s strength in 2025. Nancy breaks down why TJX remains the benchmark, how Burlington and Ross are refining their customer focus, and why Rack continues to own the “better off-price” space. They also discuss the growing role of club stores like Costco and Sam’s Club in moving branded goods. A grounded look at value, merchandising discipline, and what’s next for the off-price industry.