Weather-Worn TJX Struggles To Small February Comp Gain
Thursday March 7th, 2013 - 12:44PM
These are shortcuts to your favorite social networking and bookmark sites. Add this story to your Facebook page, del.icio.us, DiggIt, and many others!
In the four-week period ended March 2, sales at The TJX Cos., Inc. increased by 7% to $1.8 billion versus the four-week period ended February 25, 2012. Comparable store sales gained 1%.
Comps at the Marmaxx group, including the T.J. Maxx and Marshalls chains, were flat but, in a conference call, a company spokesperson noted that the metric in home fashions gained 6% versus a 2% slide in apparel. HomeGoods comps advanced 4%. In Canada, home fashions also did well despite the 1% comp decline across the division. Comparable store sales in the company's Europe division increased by 5%.
Carol Meyrowitz, TJX CEO said in comments on the results, “Business trends picked up at the very end of the month, leading to our February comp store sales coming in higher than expected at a 1% increase. Winter storms in many U.S. and Canadian regions kept customers at home, but we were pleased to see our momentum continue in warmer weather markets. Further, our home businesses, which are less weather sensitive, were strong across the board. We are also happy with the continued strength of our European businesses.”
Tags: Housewares Cookware & Bakeware Vacuum Cleaners/Electric Cleaning Health & Personal Care Home Décor Home Environment 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.