These 4 retailers are crushing the industry

The retail industry is struggling.

But Morgan Stanley recently executed a study, highlighting which retailers are winning - and which are losing. Morgan Stanley considered eleven factors and took them into account for over the past decade. These factors included protection from what Morgan Stanley calls the "Amazon threat" and consistent growth in comparable sales.

These four stores are surviving in an otherwise difficult time.

Ross Stores

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Off-price stores are thriving, and Ross Stores are no exception.

"Like [TJ Maxx], Ross has benefited from the continued appetite of American consumers to bargain hunt and look for offers and deals in a bid to make their dollar stretch further. That trend shows no sign of dissipating; indeed, it strengthened into the final quarter of last year, something that was undoubtedly helpful to Ross," Neil Saunders, CEO of consulting firm Conlumino, wrote in a recent note to clients.

TJ Maxx

Flickr/Natalie Litz

TJ Maxx highlights consumers' obsession with bargain-hunting. Comparable sales for fiscal 2016 were up 5% at the end of fiscal 2016. According to Buzzfeed News, its sales have surpassed those of Macy's. President and CEO Carol Meyrowitz has been leading the way; a Forbes contributor went so far called Meyrowitz "retailer of the year" at the end of 2015. TJ Maxx has been one of the few retailers to survive what feels like apocalyptic times; Quartz's Chase Purdy argues it's because "nobody has figured out how to sell off-price clothing very well on the Internet."

Lululemon

Lululemon

Lululemon has managed to buck an unfortunate trend in the retail industry: incessant discounting. The company has convinced women to a pay a premium. The store sells a lifestyle and an experience in addition to just apparel; its relaunched flagship in New York City highlights the brand's emphasis on community.

L Brands

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Make no mistake: L Brand's Victoria's Secret dominates the lingerie sector, with an impressive 61.8%, according to IBIS World. The company's advertising team chooses models they believe female customers will relate to, and that strategy is working; Victoria's Secret stores took in $6.1 billion in sales in 2015. L Brands also holds the successful Bath & Body Works, which has capitalized on millennials' love for nostalgia by throwing back to its iconic older fragrances, such as Cucumber Melon and Juniper Breeze with its #FlashbackFragrance campaign.