Home / Knowledge / News / Apparel/Garments / TJX Companies net sales up 6% to $10.5 billion for Q3 2019

TJX Companies net sales up 6% to $10.5 billion for Q3 2019

21
Nov '19
Pic: TJX Companies
Pic: TJX Companies
TJX Companies, Inc, the leading off-price apparel and home fashions retailer in US and worldwide, has reported net sales of $10.5 billion for Q3 ending November 2, 2019, up 6 per cent compared to same period last year. Consolidated comparable store sales increased 4 per cent, over last year’s 7 per cent increase, while net income for Q3 was $828 million.

During the third quarter, the company increased its store count by 107 stores to a total of 4,519 stores.

For the first nine months of fiscal 2020, net sales were $29.5 billion, a 6 per cent increase over the same period last year. Consolidated comparable store sales for the first nine months of fiscal 2020 increased 4 per cent. Net income for the first nine months of fiscal 2020 was $2.3 billion.

“We are extremely pleased with our strong performance in the third quarter as both sales and earnings per share exceeded our expectations. Consolidated comp store sales increased 4 per cent over a very strong 7 per cent increase last year, and earnings per share were $.68. We are especially pleased that Marmaxx, HomeGoods, and TJX Canada each delivered a sequential increase in their comp store sales growth, and TJX International maintained its strong momentum driven by excellent performance in Europe, said Ernie Herrman, chief executive officer and president of The TJX Companies, Inc.

“Further, customer traffic was the primary driver of the comp store sales increases at each of these four major divisions. With our above-guidance third quarter results, we are raising our full-year earnings per share guidance. Looking ahead, the fourth quarter is off to a solid start and we have many initiatives underway to keep driving traffic and sales to our stores and online during the holiday season and beyond. We are convinced our holiday marketing campaigns will position us as a top shopping destination for exciting gifts at amazing prices. We are seeing fantastic, widespread availability of quality, branded merchandise and are in a great position to capitalise on these opportunities. Longer term, we are confident that we can gain additional market share and continue the successful growth of TJX in the US and internationally!”

For the fourth quarter of fiscal 2020, the company expects diluted earnings per share to be in the range of $.74 to $.76 versus earnings per share of $.68 in the prior year.

For the 52-week fiscal year ending February 1, 2020, the company now expects diluted earnings per share to be in the range of $2.61 to $2.63.

Fibre2Fashion News Desk (PC)


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 6th Dec 2019

RMG units open in Cambodia despite risk of EBA deal loss

Garment units continue to open in Cambodia despite the looming threat ...

Pic: Shutterstock

E-commerce | On 6th Dec 2019

Europe continues to dominate global e-com ranking: UNCTAD

Europe remains by far the most prepared region for e-commerce, with...

Pic: Shutterstock

Apparel/Garments | On 6th Dec 2019

58 RMG units set up in Bangladesh in Jan-Oct 2019

Fifty eight new garment factories have been set up in Bangladesh...

Interviews View All

Rahul Bhadani, Looksgud

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Claudia Kersten, Global Organic Textile Standard

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli, Epson, For.Tex & F.lli Robustelli

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Alessandro Marengo,

Alessandro Marengo

Founded in 1974, Italian firm Zaitex SpA is one of the leading suppliers...

Pratik Agarwal,

Pratik Agarwal

Breya is a brand of Indo-Western clothes for women owned by ABP Apparels...

Aaron Spivak,

Aaron Spivak

Canada-based Hush Blankets was founded by Lior Ohayon and Aaron Spivak to...

Justin Gutierrez, INDA

Justin Gutierrez
INDA

The Association of the Nonwoven Fabrics Industry (INDA) has created a new...

Paolo Ocleppo, Sandvik Hyperion

Paolo Ocleppo
Sandvik Hyperion

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

Dr. Rene Wollert, Freudenberg Nonwovens

Dr. Rene Wollert
Freudenberg Nonwovens

Dr. Rene Wollert discusses the current scenario of the global nonwovens...

Sneha Arora, Label Sneha Arora

Sneha Arora
Label Sneha Arora

Sneha Arora, an alumnus of National Institute of Fashion Technology,...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Pranav Mishra, Huemn

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

Leave your Comments


December 2019

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


Advanced Search