TJX news and archive

Target, TJX & Macy's Q2 earnings top all estimates

Retailers Target Corp. (TGT), TJX Cos. Inc. (TJX) and Macy's, Inc. (M) reported Wednesday profits for the second quarter that topped analysts' estimates. Quarterly revenues at Target and TJX also beat estimates, while it misses by a whisker at Macy's. The improved results at the retailers were driven by gross margin expansion. Target and TJX...

Business

TJX forms JV with Mexican off-price retailer Grupo Axo

The TJX Companies has signed a joint venture agreement with Axo, an operator of global brands in Mexico and South America that includes both full and off-price formats. Under the terms of the agreement, the company said in a release, TJX would own 49 percent and Axo would own 51 percent of the joint venture. The joint venture would comprise Axo’...

Business

TJX UK reports jump in full-year profit

The UK subsidiary of TJX Companies has reported a 17.5 percent increase in turnover in the year ended January 28, 2023. TJX UK, which operates off-price clothing chain TK Maxx, generated turnover of 3.89 billion pounds in the period, up from 3.31 billion pounds a year earlier. It’s also worth noting that the 17.5 percent increase came off the...

Business

TJX Companies increases quarterly dividend by 13 percent

The TJX Companies, Inc. has raised the amount of its quarterly dividend by 13 percent from the last dividend paid. The company’s board declared a regular quarterly dividend in the amount of 0.3325 cents per share, payable June 1, 2023, to shareholders of record on May 11, 2023. Commenting on the dividend increase, Ernie Herrman, chief executive...

Retail

Lululemon and TJX begin reopening stores

As countries around the world begin easing their lockdown measures, many stores are able to reopen again. Lululemon and TJX join the list of companies that have announced their phased plan of renewed in-store services, with a focus placed on safety measures. Lululemon After closing the majority of its global stores in mid-March, Lululemon is...

Business

TJX to furlough employees and cut executive pay

Even off-price retail chains, which have long been a sweet spot for retail even in the midst of a recession, are feeling the impact of COVID-19. TJX, the parent company of TJ Maxx and Marshalls, will be furloughing employees and cutting executive pay by 20 to 30 percent until further notice. Beginning April 12, the majority of in-store and...

Business

TJX gets upgrade, GIII soars while Abercrombie struggles

Shares of US apparel and home goods company TJX Cos. (TJX) climbed up by 1.35 percent to 66.12 US dollars yesterday after the discount retailer was added to the "conviction" buy list at Goldman Sachs and upgraded to "buy" from "neutral" this morning. Despite a weak third quarter, which analysts see as an abberation, TJX has seen good revenue...

Design

The TJX Companies 6 percent rise in H1 net sales

REPORT_ The TJX Companies has announced sales and earnings results for the second quarter ended August2, 2014 with net sales increasing 7 percent to 6.9 billion dollars, and consolidated comparable store sales increased 3 percent over last year's reported 4 percent increase. Net income for the second quarter was 518 million dollars and diluted...

Design

The TJX Companies Q1 net sales rise 5 percent

REPORT_ The TJX Companies has announced sales and earnings resultsfor the first quarter ended May 3, 2014. Net sales for the first quarter of fiscal 2015 increased 5 percent to 6.5 billion dollars, and consolidated comparable store sales increased 1 percent. Net income for the first quarter was 454 million dollars, and diluted earnings per share...

Fashion

TJX Companies net sales rise 6 percent in 2013

REPORT_ In 2013, net sales of the TJX Companies, for the 52-week fiscal year reached 27.4 billion dollars, up 6 percent over the 53-week fiscal year in 2012. On a 52-week comparable basis, consolidated comparable store sales grew 3 percent over last year’s 7 percent growth and several years of strong increases. Net income rose to 2.1 billion...

Fashion

TJX Companies reports 6 percent rise in FY 2013

REPORT_ The TJX Companies announced sales and earnings results for the fiscal year and fourth quarter ended February 1, 2014. Net sales for the 52-week fiscal year were 27.4 billion dollars, a 6 percent increase over the 53-week fiscal period last year. Consolidated comparable store sales increased 3 percent on a 52-week comparable basis. Net...

Design

TJX Q3 net sales up 9 percent

REPORT_ TJX net sales for the third quarter of fiscal 2014 increased 9 percent and consolidated comparable store sales increased 5 percent over last year’s reported 7 percent increase. Adjusted diluted earnings per share were a 21 percent increase over the prior year. For the first nine months of fiscal 2014, net sales were a 8 percent increase...