TJ Maxx news and archive

TJX UK reports jump in full-year profit

The UK subsidiary of TJX Companies has reported a 17.5 percent increase in turnover in the year ended January 28, 2023. TJX UK, which operates off-price clothing chain TK Maxx, generated turnover of 3.89 billion pounds in the period, up from 3.31 billion pounds a year earlier. It’s also worth noting that the 17.5 percent increase came off the...

BusinessFeatured

TJX Companies earnings beat expectations, sales drop

Third quarter net sales at The TJX Companies, Inc. were 12.2 billion dollars, a decrease of 3 percent versus the third quarter of fiscal 2022. The company’s U.S. comp store sales decreased 2 percent versus a 16 percent increase in U.S. open-only comp store sales in the third quarter of fiscal 2022. Net income for the quarter was 1.1 billion...

BusinessFeatured

TJX Companies posts 2 percent sales drop in Q2 but lifts FY23 outlook

The TJX Companies, Inc. reported net sales for the second quarter of 11.8 billion dollars, a decrease of 2 percent versus the second quarter of fiscal 2022. The company’s U.S. comp store sales decreased 5 percent versus a 21 percent increase in U.S. open-only comp store sales in the second quarter of fiscal 2022. Net income was 809 million...

Business

The TJX Companies posts 13 percent sales growth

The TJX Companies’ net sales for the first quarter were 11.4 billion dollars, an increase of 13 percent versus the first quarter of fiscal 2022. U.S. comp store sales growth rounded down to flat over a 17 percent increase in U.S. open-only comp store sales in the first quarter of fiscal 2022. Net income was 587 million dollars and GAAP diluted...

Business

TJX to sell shares of Russian firm Familia

The TJX Companies, owner of TJ Maxx, has announced it will be selling its equity ownership in Familia, an off-price Russian retailer, in support of the people of Ukraine. In a release, the company said Doug Mizzi and Scott Golderberg have resigned from their director and observer positions on the retailer’s board of directors, effective...

Business

TJX Companies net sales improve 27 percent

The TJX Companies, Inc. has announced net sales for the fourth quarter of 13.9 billion dollars, an increase of 27 percent versus the fourth quarter of fiscal 2021. Net sales for the fourth quarter of fiscal 2022 increased 14 percent versus the fourth quarter of fiscal 2020. U.S. open-only comp store sales increased 13 percent over a 6 percent...

Business

TJX Companies same-store sales increase 14 percent over Q320

The TJX Companies, Inc. net sales for the third quarter of fiscal 2022 were 12.5 billion dollars, an increase of 24 percent versus the third quarter of fiscal 2021 and 20 percent versus the third quarter of fiscal 2020. Overall open-only comp store sales increased 14 percent over a 4 percent increase in the third quarter of fiscal 2020. Net...

Business

TJX to furlough employees and cut executive pay

Even off-price retail chains, which have long been a sweet spot for retail even in the midst of a recession, are feeling the impact of COVID-19. TJX, the parent company of TJ Maxx and Marshalls, will be furloughing employees and cutting executive pay by 20 to 30 percent until further notice. Beginning April 12, the majority of in-store and...

Business

Blackstone invests Rs 1,750 cr in Future Lifestyle Fashion

Future Lifestyle Fashion, the flagship fashion business of Kishore Biyani-owned Future Group has received Rs 1,750 crore investments from Blackstone, the world’s biggest private equity firm. Blackstone is investing in Ryka Commercial Ventures, the holding company of the lifestyle retailer through debentures which will be used to retire or...

BusinessFeatured

Will TK Maxx's return to the Benelux be a top or flop?

Best known for its deeply discounted designer label products and home furnishing, which sell at 20 percent to 60 percent under the recommended retail price, TK Maxx has managed to maintain consumer appeal over the years, which has allowed its parent company TJX Companies to hold a strong position within the global off-price retailing market. Now...