TJX Companies Inc., leading off-price retailer of apparel and home fashions in the US and worldwide, has registered a 9.9 per cent increase in sales in the first quarter of the fiscal year to around US $ 7.7 billion.
The retailer’s (consolidated) comparable-store sales surged 7 per cent in the reporting quarter compared with 5 per cent increase in the same quarter last year. The strong rise in sales was supported by 6 per cent, 9 per cent, 14 per cent and 4 per cent year-over-year growth in same-store sales at Marmaxx, Home Goods, TJX Canada and TJX Europe, respectively. Its gross margin zoomed 0.5 percentage points to 28.8 per cent in the period under consideration. However, the company’s pre-tax profit margin plunged 0.2 percentage points year-over-year to 10.9 per cent of sales.
Also Read – CR Magazine names 6 clothing firms in ’16 Corporate Citizens List
TJX Companies has more than 3,300 stores in seven countries, three e-commerce sites, and around 198,000 associates. It operates T.J. Maxx and Marshalls (Marmaxx), HomeGoods and Sierra Trading Post, tjmaxx.com and sierratradingpost.com in the United States; Winners, HomeSense, and Marshalls (combined, TJX Canada) in Canada; and T.K. Maxx in the UK, Ireland, Germany, Poland, and Austria, and HomeSense and tkmaxx.com in the UK.
