Home / Knowledge / News / Apparel/Garments / Q3 FY'14 sales up 9% at TJX Companies
Q3 FY'14 sales up 9% at TJX Companies
20
Nov '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 third quarter ended November 2, 2013.

Net sales for the third quarter of Fiscal 2014 increased 9% to $7.0 billion, and consolidated comparable store sales increased 5% over last year's reported 7% increase. Net income for the third quarter was $623 million.

Third quarter diluted earnings per share were $.86, compared with last year's $.62 per share. Excluding a previously announced third quarter tax benefit of $.11 per share due to reversals of state, federal, and foreign tax reserves and allowances, adjusted diluted earnings per share were $.75, a 21% increase over the prior year.

For the first nine months of Fiscal 2014, net sales were $19.6 billion, an 8% increase over last year, and consolidated comparable store sales increased 3% over last year's reported 8% increase. Net income was $1.6 billion and diluted earnings per share were $2.14 compared with $1.73 in the same period last year. Excluding the third quarter tax benefit (referred to above), adjusted diluted earnings per share were $2.03, a 17% increase over the prior year.

Carol Meyrowitz, Chief Executive Officer of The TJX Companies, Inc., stated, "We are very pleased that our strong momentum continued in the third quarter. Our 21% increase in adjusted earnings per share and 5% consolidated comparable store sales growth were both well above our original plan and achieved over strong comparisons last year.

“We believe these robust results demonstrate, once again, our ability to succeed in all types of economic and retail environments. We are raising our full-year guidance to reflect our third quarter performance.

“The fourth quarter is off to a good start and we see exciting opportunities for this holiday selling season: we have great initiatives planned and will be shipping fresh gift-giving selections to our stores throughout the holiday season; we expect our marketing campaigns will be seen by more people than ever before; and as always, we will be offering consumers extreme values on great fashions and brands! Longer term, we see tremendous potential ahead for TJX, and we remain very confident in our ability to continue driving substantial top- and bottom-line growth."

Click here to view full results. 

The TJX Companies

Must ReadView All

Courtesy: Li & Fung

Textiles | On 24th Mar 2017

Li & Fung forms new supply chain partnership with PVH Corp

Li & Fung Limited, the world's leader in consumer goods design,...

Courtesy: Alizilla

Apparel/Garments | On 24th Mar 2017

Alibaba's eWTP finds first overseas base in Malaysia

In a step towards using the internet to bring small businesses around ...

Textiles | On 24th Mar 2017

BJMC to produce cotton-jute blended denim fabrics

To meet demand from the market, Bangladesh Jute Mills Corporation...

Interviews View All

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Paolo Ocleppo
Sandvik Hyperion

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

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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

news category


Related Categories:
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search