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.
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.
March was a good month for retailers overall, as an early spring brought out shoppers looking for seasonal merchandise earlier than they typically would.
TJX Cos. is headed for a strong 2012, thanks to fourth-quarter sales and profit growth.
The nation’s discount chains reported solid results for January, with Target Corp., TJX Cos., and Costco Wholesale Corp. all reporting gains above expectations.
TJX Cos. reported Tuesday that profit for the quarter ended Oct. 29 rose 15% to $406.5 million, from $372.3 million a year earlier.
TJX Cos. reported that net income for the first quarter plummeted 20% on the closing of its A.J. Wright stores, but strong sales buoyed the retailer’s full-year forecasts.
TJX Cos. reported a 15% drop in fourth-quarter earnings, dragged down by costs to close its A.J. Wright store division. The company also plans to repurchase $1.2 billion of its stock this fiscal year and raise its dividend.