Content about TJX Companies

December 23, 2013

In the wake of Target’s massive data breach first revealed on Thursday, three class-action lawsuits have been filed against the retailer, seeking more than $5 million in damages.

Minneapolis -- In the wake of Target’s massive data breach first revealed on Thursday, three class-action lawsuits have been filed against the retailer, seeking more than $5 million in damages.

Target confirmed that the data theft involving 40 million credit and debit card holders’ accounts occurred over a 19-day period that stretched from Nov. 27 to Dec. 15, three of Target’s busiest shopping weeks of the year.

December 19, 2013

Target confirmed that it suffered a major data breach that may have affected as many as 40 million credit and debit card transactions at Target stores between Nov. 27 and Dec. 15.

Minneapolis – Target confirmed that it suffered a major data breach that may have affected as many as 40 million credit and debit card transactions at Target stores between Nov. 27 and Dec. 15. The retailer said the information included customer name, credit or debit card number, and the card’s expiration date and CVV (the three-digit security code).

November 25, 2013

TJX Cos. is launching its first-ever holiday gift hotline for its TJ Maxx and Marshall stores.

Framingham, Mass. -- TJX Cos. is launching its first-ever holiday gift hotline for its TJ Maxx and Marshall stores.

The hotline will be available to shoppers from Tuesday, Dec. 3 through Friday, Dec. 6, and will be staffed by nationally renowned style and gifting experts.

The hotline will be staffed from 9 a.m. to 5 p.m.

November 19, 2013

The TJX Companies reported better-than-expected net income of $622.6 million for the third quarter, up 35% million from $461.5 million in the year-ago period. The chain also raised its full-year guidance.

Framingham, Mass. -- The TJX Companies reported better-than-expected net income of $622.6 million for the third quarter, up 35% million from $461.5 million in the year-ago period. The chain also raised its full-year guidance.

Net sales grew about 9% to $6.98 billion from $6.41 billion as bargain-hunting consumers flocked to its stores. Same-store sales rose 5%. The chain credited the ability of its off-price format to succeed in any economic environment as a key component of its strong quarterly performance.

September 20, 2013

A TJX Marshall’s store has leased a 23,137-sq.-ft. space at the Meriden Mall in Meriden, Conn.

Meriden, Conn. — A TJX Marshall’s store has leased a 23,137-sq.-ft. space at the Meriden Mall in Meriden, Conn. Charter Realty and Development represented the TJX Company in the transaction. Charter Realty is TJX’s exclusive broker for Connecticut, and this is the 25th lease TJX lease the company has arranged.

Anchored by Best Buy, Dick’s Sporting Goods and Macy’s, the 894,435-sq.-ft. mall, owned by The Westfield Group, has 142 stores and ranks as the seventh largest mall in Connecticut.

 

September 19, 2013

T.J. Maxx has quietly relaunched its e-commerce site, eight years after initially attempting to sell products online, without any promotion or official announcement.

Framingham, Mass. – T.J. Maxx has quietly relaunched its e-commerce site, eight years after initially attempting to sell products online, without any promotion or official announcement. A Boston Globe article indicates the site went live on Sept. 18.

August 20, 2013

TJX reported that its fiscal second-quarter net income rose a better-than-expected 14%. The off-price retailer also increased its profit outlook for the year.

FRAMINGHAM, Mass. — TJX Cos. reported that its fiscal second-quarter net income rose a better-than-expected 14%. The off-price retailer also increased its profit outlook for the year.

The company earned $479.6 million for the quarter, which ended on Aug. 3, up from $421.1 million in the same quarter last year.

June 14, 2013

Dawn Lepore, who has previously served as interim CEO of Prosper Marketplace and also held executive positions at drugstore.com and The Charles Schwab Company, has been named to the board of directors of The TJX Companies.

Framingham, Mass. -- Dawn Lepore, who has previously served as interim CEO of Prosper Marketplace and also held executive positions at drugstore.com and The Charles Schwab Company, has been named to the board of directors of The TJX Companies.

TJX is expanding the size of its board with this appointment and Lepore joins 10 sitting board members.

 

May 21, 2013

The TJX Companies, Inc. reported increased net sales during first quarter fiscal 2014.

Framingham, Mass. – The TJX Companies, Inc. reported increased net sales during first quarter fiscal 2014. Revenue rose almost 7% from the same quarter a year earlier to about $6.2 billion, while same store sales grew 2% on top of an 8% increase from last year. Net earnings totaled $453 million.

CEO Carol Meyrowitz said that a flexible business model allowed TJX to have a profitable quarter despite adverse weather conditions. “Flowing the right merchandise at the right time continued to be key to strong merchandise margins,” she said.

May 9, 2013

TJX Cos., Gap Inc., The Buckle and Zumiez all reported better-than-expected same-store sales for April, even as concerns about the job market bit into other retailers’ results.

New York -- TJX Cos., Gap Inc., The Buckle and Zumiez all reported better-than-expected same-store sales for April, even as concerns about the job market bit into other retailers’ results.
   

May 9, 2013

TJX Cos. has joined the growing ranks of retailers who no longer report monthly sales.

New York -- TJX Cos. has joined the growing ranks of retailers who no longer report monthly sales. On Thursday, the retailer announced that it will report results on a quarterly basis going forward. Also, as previously announced, Ross Stores will no longer be reporting same-store sales after the April results.

That will leave 11 U.S. retail chains reporting monthly sales, down from a peak of 68 in 2006, according to Reuters.

 

April 16, 2013

Fort Worth, Texas-based Trademark Property Co. announced that TJX Cos. concepts T.J. Maxx and HomeGoods will open this fall at The Shops at La Palmera, a 200,000-sq.-ft. outdoor shopping center in Corpus Christi, Texas.

Corpus Christi, Texas -- Fort Worth, Texas-based Trademark Property Co. announced that TJX Cos. concepts T.J. Maxx and HomeGoods will open this fall at The Shops at La Palmera, a 200,000-sq.-ft. outdoor shopping center in Corpus Christi, Texas.

Construction has already begun on the 44,750-sq.-ft. space accommodating the two new stores, which will be located adjacent to one another, each with a separate store entrance. The Shops at La Palmera store marks T.J. Maxx’s first in Corpus Christi. HomeGoods is new to market also.

March 7, 2013

Costco Wholesale Corp., Limited Brands and TJX Cos. reported better-than-expected sales for February, as growing employment and a surging stock market apparently offset the impact of higher taxes.

New York -- Costco Wholesale Corp., Limited Brands and TJX Cos. on Thursday reported better-than-expected sales for February, as growing employment and a surging stock market apparently offset the impact of higher taxes. (Some analysts cautioned, however, that the monthly figures have become less influential as an economic indicator as the number of retailers reporting on a monthly basis has dropped considerable. As of this month, Target and Kohl’s are no longer reporting monthly sales.)

February 27, 2013

he TJX Cos. reported a profit of $604.8 million for the quarter ended Feb. 2, compared with $475.3 million in the year-ago period.

Framingham, Mass. -- The TJX Cos. reported Wednesday a profit of $604.8 million for the quarter ended Feb. 2, compared with $475.3 million in the year-ago period. Despite the strong showing, TJX forecast a slowed growth pace for the new fiscal year and issued a profit forecast below analysts’ expectations. And joining many other retailers, the company announced that beginning with the fiscal 2014 second quarter, it will no longer report monthly sales.

February 7, 2013

There were few missteps among the discounters in January, as most posted strong results, many surpassing Wall Street expectations.

New York -- There were few missteps among the discounters in January, as most posted strong results, many surpassing Wall Street expectations.

Target reported a same-store sales rise of 3.1%, topping Wall Street expectations. Total sales surged 29.6% to $5.97 billion in January.

January 3, 2013

Target Corp. turned in a less than stellar performance in December, recording flat same-store sales.

New York -- Target Corp. turned in a less than stellar performance in December, recording flat same-store sales. But Costco Wholesale Corp. and TJX shone, exemplifying an up-and-down season in which consumers backed off buying amid concerns about a “fiscal cliff” and the uncertain economic climate.

December 27, 2012

Some are merchants, with long careers in brick-and-mortar stores. Others are tech trailblazers, using new media to match merchandise and buyers. Others are influencing retail in less direct, but no less significant, ways. All share an ability to create new opportunities and, in their own way, are looking to reinvent the shopping experience. And all wield a great deal of influence in today’s complex retail landscape.

December 21, 2012

The TJX Cos. said it has acquired Sierra Trading Post, an off-price Internet retailer based in Cheyenne, Wyoming, for approximately $200 million in cash.

Framingham, Mass. -- The TJX Cos. said Friday it has acquired Sierra Trading Post, an off-price Internet retailer based in Cheyenne, Wyoming, for approximately $200 million in cash.

The purchase was financed from TJX’s existing cash balances.

November 13, 2012

TJX Cos. reported Tuesday that net income for the quarter ended Oct. 27 rose to $461.5 million, from $406.5 million last year.

Framingham, Mass. -- TJX Cos. reported Tuesday that net income for the quarter ended Oct. 27 rose to $461.5 million, from $406.5 million last year.

Sales rose 10.7% to $6.41 billion; same-store sales climbed 7%.

The parent to T.J. Maxx and Marshalls said it expects same-store sales during the holiday quarter to be flat to up 2%.

 

November 1, 2012

The TJX Cos. turned in the strongest performance among the discounters in October, reporting a 7% comp sales increase.

New York -- The TJX Cos. turned in the strongest performance among the discounters in October, reporting a 7% comp sales increase on Thursday.

According to TJX CEO Carol Meyrowitz, the above-plan performance has prompted the retailer to raise its outlook for the third quarter and full year. “We believe the momentum we are seeing in all of our businesses … bode well for the holiday selling season,” she said.

TJX sales for the period advanced 11% to $2.1 billion.

October 4, 2012

Costco Wholesale Corp. reported a better-than-expected 6% rise in September same-store sales, helped by higher gasoline prices and a stronger dollar.

New York -- Costco Wholesale Corp. reported a better-than-expected 6% rise in September same-store sales, helped by higher gasoline prices and a stronger dollar. Excluding the impact of gasoline prices and foreign exchange, comparable September same-store sales rose 5%.

Net sales rose 8% to $9.31 billion in the five weeks ended Sept. 30. Costco, which currently operates 608 warehouses, said it plans to open up to 14 new warehouses prior to the end of calendar year 2012.

August 30, 2012

Discounters reported strong-than-expected sales for August, fueled by back-to-school shopping, promotions and cooler weather in the Northeast.

New York -- Discounters reported strong-than-expected sales for August, fueled by back-to-school shopping, promotions and cooler weather in the Northeast.

Costco Wholesale Corp.'s same-store sales in August rose 6%, beating the 4.5% rise analysts had projected.

Target Corp. reported a 4.2% increase in same-store sales, better than the 3.1% increase that analysts had expected.

August 14, 2012

TJX Cos. reported Tuesday that net income for the quarter ended July 28 soared 20.9% to $421.1 million, up from $348.3 million and marking the discounter’s third consecutive quarter of rising profits.

Framingham, Mass. -- TJX Cos. reported Tuesday that net income for the quarter ended July 28 soared 20.9% to $421.1 million, up from $348.3 million and marking the discounter’s third consecutive quarter of rising profits.

Revenues beat projections by climbing 8.7% to $5.95 billion.

The owner of the Marshalls and T.J. Maxx chains raised its full-year profit forecast.

July 5, 2012

As discounters such as Target, Stein Mart and warehouse club operator Costco posted disappointing same-store sales results in June, TJX Cos. and Ross Stores shone with gains that surpassed Wall Street estimates.

New York -- As discounters such as Target, Stein Mart and warehouse club operator Costco posted disappointing same-store sales results in June, TJX Cos. and Ross Stores shone with gains that surpassed Wall Street estimates. TJX saw a same-store sales rise of 7% in June, beating the 4.2% rise predicted by analysts. Ross was up 7% for the month, after Wall Street forecast a 4.8% increase. Sales rose 12% to $886 million in June. Both chains raised their second-quarter profit forecasts.

June 27, 2012

North Plainfield, N.J.-based Levin Management Corp. announced that HomeGoods, a TJX Cos. banner, will anchor the 100,000-sq.-ft. retail component of Edgewater Harbor, a mixed-use waterfront redevelopment in Edgewater, N.J.

Edgewater, N.J. -- North Plainfield, N.J.-based Levin Management Corp. announced that HomeGoods, a TJX Cos. banner, will anchor the 100,000-sq.-ft. retail component of Edgewater Harbor, a mixed-use waterfront redevelopment in Edgewater, N.J.

HomeGoods has leased 24,000 sq. ft. and will join newly opened CVS Pharmacy, Moe's Southwest Grill, AT&T, Beach Bum Tanning, Epique Massage and Edgewater Dry Cleaners.