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

Courtesy: Michael Kors

Fashion | On 25th Jul 2017

Michael Kors to acquire Jimmy Choo

Global fashion luxury brand Michael Kors Holdings Limited has reached ...

Apparel/Garments | On 25th Jul 2017

VF Corp posts $2.4 billion revenue for Q2 2017

VF Corporation has recorded revenue of $2.4 billion, up 2 per cent,...

Textiles | On 25th Jul 2017

Egypt signs agreement with UNIDO for cotton production

Egypt has signed a €1.5 million ($1.74 million) cooperation agreement ...

Interviews View All

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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

July 2017

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

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

Yes No

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

Yes No

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


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



X