HomeGoods Comps Gain As TJX Advances
Monday November 5th, 2012 - 12:28PM
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The TJX Cos., Inc. announced that its October 2012 sales results were $2.1 billion, up 11% year over year. Consolidated comparable store sales for the four-week period ended October 27 increased 7% versus the four-week month ended October 29, 2011.
In a conference call, TJX stated that comps at The Marmaxx Group, comprised of the T.J. Maxx and Marshalls chains, increased 6%. Within the Marmaxx Group, apparel comps increased 7% and home fashions comps increased 4%. HomeGoods comps increased by 6%. Comps in Canada, at the Winners and HomeSense chains combined, gained 7%. In Europe, T.K. Maxx and HomeSense combined comps advanced by 11%.
“We are extremely pleased with our well-above-plan consolidated comp increase of 7%, which demonstrates once again our ability to deliver strong comp sales increases over strong increases in the prior year,” said Carol Meyrowitz, TJX CEO, in commenting on monthly results. “Our momentum continued at all divisions and customer traffic drove comp increases across the board, which we believe speaks to the staying power and appeal of our great brands and fashions at compelling values. We were particularly pleased with TJX Europe’s 11% comp sales increase, achieved over a 5% increase last year, as we continue to see increasingly strong trends in this important growth vehicle. With above-plan sales in October, we are raising our outlook for the third quarter and full year. We believe the momentum we are seeing in all of our businesses, along with the exciting gift initiatives and marketing campaigns that we have planned bode well for the holiday selling season.”
Tags: Housewares Cookware & Bakeware Vacuum Cleaners/Electric Cleaning Health & Personal Care Home Décor Small Electrics Organization & Cleaning Tabletop Gadgets & Kitchen Tools Retail Financials
Dissecting what Ron Johnson got wrong during his brief, calamitous term at the helm of J.C. Penney is sure to be the focal point of retail strategy and tactics lessons for years to come. But Penney’s future could still hinge to some extent on what he got right.