Home / Knowledge / News / Apparel/Garments / Off-price retailer TJX delivers strong results

Off-price retailer TJX delivers strong results

14
May '08
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 first quarter ended April 26, 2008. Net sales for the first quarter of Fiscal 2009 increased 6% to $4.4 billion, and consolidated comparable store sales increased 3% over last year.

Net income for the first quarter was $194 million, and diluted earnings per share were $.43 compared to $.34 last year. This year's first quarter results include a benefit of $12 million, which rounds to $.02 per share, due to certain tax-related adjustments unanticipated at the beginning of the quarter.

Prior year's first quarter results included an after-tax charge of $12 million, which rounds to $.03 per share, with respect to the computer intrusion(s). Excluding these items, first quarter Fiscal 2009 adjusted diluted earnings per share of $.41 increased 11% over the adjusted $.37 for the prior year.

Carol Meyrowitz, President and Chief Executive Officer of The TJX Companies, Inc., stated, “We are pleased with our first quarter performance, as we once again drove strong sales, merchandise margins, and profit growth despite the challenges of the consumer environment and unfavorable weather in the first two months.

While we continue our sharp execution of our off-price business model and deliver strong results, we are also funding our expansion domestically and internationally. We are excited by our prospects for growth in Europe, having opened our first HomeSense stores in the U.K. and another T.K. Maxx store in Germany. As we move into the second quarter, we are very well positioned to continue to capitalize upon merchandise opportunities and deliver great value to our customers every day.”


Must ReadView All

Pic: Shutterstock

E-commerce | On 30th Nov 2020

France to impose 'digital tax' in 2020

France has decided to impose a new digital tax on big online...

Pic: University of York

Textiles | On 30th Nov 2020

UK scientists working to reduce textile industry waste

Scientists at the University of York and the Royal College of Art are ...

Pic: Material Exchange

Textiles | On 30th Nov 2020

Material Exchange raises €5 million for sustainability

Material Exchange has announced the closing of a €5 million funding...

Interviews View All

Nitin Soni, Dolphin Jingwei Machines

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Textile Industry, Head honchos

Textile Industry
Head honchos

Main challenges are breakdown of supply chain and shrinkage of manpower

Textile Industry, Head honchos

Textile Industry
Head honchos

Cooperate and collaborate for greater good

Prakhar Singh,

Prakhar Singh

Morgan Tecnica offers the largest and most modern range of solutions for...

Erik Sy,

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Madison Maxey, Loomia

Madison Maxey
Loomia

Loomia designs and manufactures soft circuit systems that can be produced...

Johan Berlin, InvestKonsult Sweden AB

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Razvan Popescu, Directa Plus SpA

Razvan Popescu
Directa Plus SpA

Directa Plus is one of the largest producers and suppliers worldwide of...

Bani Batra,

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Sonam & Paras Modi, SVA

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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


November 2020

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


Advanced Search