Sandy Strikes But Doesn't Stop TJX
Friday November 30th, 2012 - 3:08PM
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Sales for the four-week period ended November 24 gained 7% at The TJX Cos., Inc. to $2.2 billion. Consolidated comparable store sales for November increased 3%.
In a conference call, the company described sales over the Thanksgiving weekend as “robust” and said they were achieved with minimal promotion.
All TJX divisions achieved positive comp store sales with Marmaxx, including, Marshalls and T.J. Maxx, Home Goods, and Canada all up 2%. Comps in TJX Europe gained 11%. Hurricane Sandy impacted operations, particularly at HomeGoods, the company said, but sales rebounded in November’s second half.
Carol Meyrowitz, TJX CEO stated in comments on the results, “We are pleased that business trends in the second half of the month were strong, leading to our comp store sales for November coming in higher than we expected at a 3% increase. Business throughout the Thanksgiving week and weekend was robust, even as we remained true to our off-price practice of offering great values every day, and stayed out of the fray of Black Friday promotions. Customer traffic drove the comp increase again this month as consumers continued to be drawn to the extreme values on our compelling, always-fresh, branded merchandise mix. We continue to be excited about our prospects for December and the fourth quarter: Our marketing campaigns will be seen by more consumers, we have fantastic gift-giving initiatives underway in our stores and we’ll be offering amazing values to consumers. The holiday selling season is off to a very good start, and I am convinced we will continue to bring new customers into our stores and keep them coming back long after December.”
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