As Reuters points out, TJX's business model caters to value consumers. Who doesn't want a value in this economy? Actually, everyone wants a value in every kind of economic cycle, but when job layoffs are in the news on a daily basis, when both consumer confidence and a sense of financial security are constantly in question, then shoppers tend to go the extra mile for attractive price tags. TJX saw decent growth in same-store sales, something that might offer a little tangible evidence to go along with the theory. Cash flow was cool as well.

I think TJX will continue to attract shoppers throughout the upcoming holiday season, but we have to remember that competitors like Wal-Mart (NYSE: WMT), Target (NYSE: TGT), and Kohl's (NYSE: KSS) will all be vying for the same thrifty buyers. The competition in the fourth quarter is going to get particularly rough. It is that way every year, don't get me wrong, but my point is that shareholders shouldn't take anything for granted with their retail holdings.

Shares of TJX have made money for those who bought at the lows. The second quarter, to me, shows that the company is in a good position, and probably should be looked at on a pullback. But, as I've just mentioned, if you do decide to take a chance with this one, keep on top of the data flow. You want to appropriately react to any significant change in the consumer landscape.

Disclosure: I don't own any company mentioned; positions can change without notice.