The TJX Companies reported increased net sales during first quarter fiscal 2014. Revenue rose almost 7% from the same quarter a year earlier to about $6.2 billion, while same store sales grew 2% on top of an 8% increase from last year. Net earnings totaled $453 million.
TJX and Ross both reported April sales results that exceeded expectations. Same store sales for the four-week period ended May 4, increased 8% for TJX, while Ross saw a same-store sales increase of 7% for the same period.
L.Brands, parent of Victoria's Secret, reported better-than-expected 3% sales in same-store sales for March. Zumiez Inc. and Buckle Inc. also both reported better-than-expected numbers.
The TJX Companies and Ross Stores reported comparable-store results that were less than impressive from what the two discount retailers usually deliver.
Same store sale decelerated for The TJX Companies and Ross Stores during January even though both companies increased their full year profits forecasts.
In what turned out to be one of the stranger holiday seasons in recent memory retailers fought through a range of unconventional headwinds to deliver an uneven performance.
Executives at Coach, Sherwin-Williams, Ross and TJX Companies were among the top wealth creators identified by Chief Executive magazine’s 5th annual Wealth Creation Index.
TJX Companies reported a 3% comp increase on top of a prior year gain of 4% while Ross Stores said posted a comp increase of 2% compared to last November’s 5% comp increase.
TJX Companies reported a 3% comp increase on top of a prior year gain of 4% while Ross Stores said posted a comp increase of 2% compared to last November’s 5% comp increase.
Costco Wholesale Corp. reported a better-than-expected 6% rise in September same-store sales, helped by higher gasoline prices and a stronger dollar. Excluding the impact of gasoline prices and foreign exchange, comparable September same-store sales rose 5%.
Retailers of discounted apparel should feel pretty good heading into back-to-school season, as shown by the strong monthly performance of Ross Stores and TJX Cos.
The TJX Companies reported that net sales for the first quarter of fiscal 2013 increased 11% to $5.8 billion and consolidated comparable-store sales increased 8%.
Target Corp., The TJX Cos., and Ross Stores reported stronger-than-expected March sales as warm weather put consumers in a spending mood. Both retailers also revised their first-quarter outlooks upward on the results.
March was a good month for retailers overall, as an early spring brought out shoppers looking for seasonal merchandise earlier than they typically would.
The nation’s discount chains reported solid results for January, with Target Corp., TJX Cos., and Costco Wholesale Corp. all reporting gains above expectations.
The TJX Companies announced Tuesday that Scott Goldenberg has been promoted to CFO, retaining his EVP title, effective Jan. 29, the beginning of TJX’s fiscal year