Home / Knowledge / News / Apparel/Garments / Apparel retailer TJX Companies sales up 12% in FY'13
Apparel retailer TJX Companies sales up 12% in FY'13
28
Feb '13
The TJX Companies, Inc., the leading off-price retailer of apparel and home fashions in the U.S. and worldwide, announced sales and earnings results for the fiscal year and fourth quarter ended February 2, 2013.

Net sales for the 53-week fiscal year were $25.9 billion, a 12% increase over last year. Consolidated comparable store sales for the year on a 52-week basis increased 7% over the prior year’s 4% increase. Net income for the 53-week fiscal year was $1.9 billion and diluted earnings per share were $2.55 compared to $1.93 last year. Last year’s results include a number of items (detailed under “Items Impacting Comparability” below) that impacted the comparability of earnings per share. Excluding these items, diluted earnings per share for the fiscal year increased 28% over the adjusted $1.99 last year.

For the 14-week fourth quarter ended February 2, 2013, net sales were $7.7 billion, a 15% increase over the prior year. Consolidated comparable store sales for the quarter on a 13-week basis increased 4% over the prior year’s 7% increase. Net income for the 14-week fourth quarter was $605 million and diluted earnings per share were $.82, a 32% increase over last year’s $.62.

Carol Meyrowitz, Chief Executive Officer of The TJX Companies, Inc., stated, “The year 2012 was another great year for TJX on top of many great years! We achieved adjusted EPS growth of 28% on sales of nearly $26 billion and consolidated comp store sales growth of 7%, marking the fourth consecutive year of very strong sales and double-digit EPS increases. Customer traffic was up across all of our divisions as our off-price shopping experience continued to resonate with customers, even with the growth in online shopping in the retail industry.

“Marmaxx, our largest division, continues to be very powerful with excellent performance of new T.J. Maxx and Marshalls stores as we expand into more rural markets as well as major cities. HomeGoods has taken hold as a shopping destination for exciting, quality product from around the world. TJX Canada delivered very strong results with Marshalls in Canada outperforming our expectations, and TJX Europe has regained its momentum and opens up enormous growth opportunity. We believe this all speaks to the staying power of our value proposition of extreme values on exciting fashions and brands.

“As large as we are, we have enormous store growth potential and are excited about the opportunity to leverage the success of our brick-and-mortar business with e-commerce over time. Our management team is focused on our four powerful divisions, and I am as confident as ever in our ability to continue driving profitable sales growth for many years to come. We are well on the road to being a $40 billion-plus company!”

TJX Companies, Inc


Must ReadView All

Vietnam’s textile & garment exports earn $7.3 bn in Q1

Textiles | On 20th Apr 2018

Vietnam’s textile & garment exports earn $7.3 bn in Q1

Vietnam earned $7.339 billion from textile and garment exports in the ...

Uganda yet to exploit AGOA benefits: US envoy Malac

Apparel/Garments | On 20th Apr 2018

Uganda yet to exploit AGOA benefits: US envoy Malac

Uganda is yet to take full advantage of the Africa Growth and...

Courtesy: KBR, Inc

Textiles | On 20th Apr 2018

KBR completes KPIC’s ethylene plant revamp project

KBR, Inc. has successfully completed the ethylene plant revamp...

Interviews View All

Top executives
Textile industry

Knowledge sharing platform needed for sustainable water management

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Top executives
Textile & apparel bodies

The mid-term review of FTP is progressive, growth oriented

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search