Home / Knowledge / News / Apparel/Garments / TJX Companies clocks 6% rise in FY'14 sales
TJX Companies clocks 6% rise in FY'14 sales
27
Feb '14
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 1, 2014.

Net sales for the 52-week fiscal year were $27.4 billion, a 6% increase over the 53-week fiscal period last year. Consolidated comparable store sales increased 3% on a 52-week comparable basis. Net income for the 52-week fiscal year was $2.1 billion, and diluted earnings per share were $2.94, a 15% increase over $2.55 last year.

Excluding a third quarter tax benefit of $.11 per share, adjusted diluted earnings per share were $2.83, a 15% increase over the prior year's adjusted earnings per share of $2.47, which excludes the approximately $.08 benefit from the 53rd week in Fiscal 2013.

For the 13-week fourth quarter ended February 1, 2014, net sales were $7.8 billion, a 1% increase over the 14-week prior-year period. Consolidated comparable store sales increased 3% over the prior year on a 13-week comparable basis.

Net income was $582 million and diluted earnings per share were $.81 compared with last year's $.82 per share. Diluted earnings per share increased 9% over last year's adjusted $.74, which excludes the approximately $.08 benefit from the extra week in the fourth quarter of Fiscal 2013.

Carol Meyrowitz, Chief Executive Officer of The TJX Companies, Inc., stated, "The year 2013 was another successful year for TJX, on top of many great years. We achieved EPS growth of 15% over last year's adjusted 24% increase, and consolidated comp sales increased 3% over last year's 7% increase. In the U.S., Marmaxx and HomeGoods continued their excellent, consistent performance.

“We also successfully launched tjmaxx.com, which, along with the smooth transition of Sierra Trading Post into TJX, gives more consumers the ability and convenience to shop our great values 24 hours a day, seven days a week. TJX Canada was in line with our plan for the year and continued to expand Marshalls across that country.

“TJX Europe delivered another outstanding year, and we could not be more excited about our international growth opportunities! We delivered these results in a competitive retail environment and despite generally unfavorable weather in many of our regions during the first and fourth quarters. We believe this speaks to the resiliency and flexibility of our off-price model, as we exceeded our long-term plan of 10% to 13% compound annual EPS growth for the fifth consecutive year."

Click here to view full results.

The TJX Companies

Must ReadView All

Courtesy: Li & Fung

Textiles | On 29th Mar 2017

Li & Fung introduces new 3-year plan 2017-2019

Li & Fung Limited has outlined its next Three-Year Plan (2017-2019)...

Courtesy: Carrington

Apparel/Garments | On 29th Mar 2017

Carrington Workwear signs JV with TMG Textiles

Carrington Workwear, one of the largest producers of workwear fabrics ...

Apparel/Garments | On 29th Mar 2017

Jabong launches Aeropostale on its platform

Jabong has added leading American high-street fashionwear brand,...

Interviews View All

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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
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