Content about The TJX Cos.

February 27, 2013

TJX profit surges in Q4; full-year forecast below expectations

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.

December 21, 2012

TJX purchases off-price online retailer Sierra Trading Post for $200 million

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 1, 2012

TJX shines among discounters in October

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.

August 30, 2012

Costco, Target, Kohl's and TJX beat estimates

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.

May 15, 2012

TJX Cos. sees profits, sales rise in first quarter

The TJX Cos. reported that net income rose to $419 million for the quarter ended April 28.

Framingham, Mass. -- The TJX Cos. reported Tuesday that net income rose to $419 million for the quarter ended April 28. On an earnings per share basis, adjusted profit results showed a 41% increase over the prior year period.

Sales increased 11% to $5.8 billion and same-store sales climbed 8%.

Carol Meyrowitz, CEO of TJX Cos., said: “We saw significant increases in customer traffic across all divisions in the first quarter over last year, which we believe points to the strength of our values and our brand content.”

April 5, 2012

Target, TJX and Ross raise outlook on better-than-expected March sales

Target Corp., The TJX Cos., and Ross Stores reported stronger-than-expected March sales as warm weather put consumers in a spending mood.

New York -- Target Corp., The TJX Cos., and Ross Stores reported stronger-than-expected March sales as warm weather put consumers in a spending mood. Both retailers also revised their first-quarter outlooks upward on the results.

Target said its same-stores sales rose 7.3% in March, helped by warm weather. Analysts had predicted a 5.4% increase.

March 1, 2012

Discounters show strength in February; Target sales up 7%

In a month that was solid overall, the discount sector showed its muscle, turning in a strong February same-store sales performance nearly across the board.

New York City -- In a month that was solid overall, the discount sector showed its muscle, turning in a strong February same-store sales performance nearly across the board.

January 31, 2012

TJX names new CFO

The TJX Cos. announced that Scott Goldenberg has been promoted to CFO, retaining his executive VP title, effective immediately.

Framingham, Mass. -- The TJX Cos. announced Tuesday that Scott Goldenberg has been promoted to CFO, retaining his executive VP title, effective immediately.

Goldenberg will oversee corporate finance for TJX and continue to report to Jeffrey Naylor, who had resumed the CFO position in 2009. Naylor will continue as senior executive VP, chief administrative officer and also have responsibility for other corporate functions, including information technology, legal, risk management and investor relations.

January 5, 2012

Discounters and department stores turn in mixed results for December

The nation’s discounters and department store retailers turned in mixed results for December, with many chains citing unseasonably warm weather that sapped demand for cold-weather merchandise.

New York City -- The nation’s discounters and department store retailers turned in mixed results for December, with many chains citing unseasonably warm weather that sapped demand for cold-weather merchandise.

“Cold-weather categories, which are highly profitable and represent approximately 25% of our business in December, were down mid-teens on a percentage basis,” said Tony Buccina, vice chairman, president – merchandising, The Bon-Ton Stores, whose December same-store sales fell 0.7%. The company widened its loss forecast.

January 4, 2012

TJX Cos. announces senior management shifts

The TJX Cos. announced several senior management shifts, including moving current Marmaxx Group head Michael MacMillan to the company’s European division.

Framingham, Mass. -- The TJX Cos. announced Wednesday several senior management shifts, including moving current Marmaxx Group head Michael MacMillan to the company’s European division.

MacMillan, who has been in charge of the company’s largest division comprised of T.J. Maxx and Marshalls, will now be senior executive VP of TJX Europe. MacMillan replaces Paul Sweetenham, who recently resigned.

The current president of HomeGoods, Richard Sherr, will return to Marmaxx Group as senior executive VP.

February 1, 2011

TJX Cos. restructures management, names new president

The TJX Cos. said Tuesday that it has restructured its executive management as part of the retailer’s ongoing leadership succession planning.

Framingham, Mass. -- The TJX Cos. said Tuesday that it has restructured its executive management as part of the retailer’s ongoing leadership succession planning.

Carol Meyrowitz has inked another two-year employment agreement as CEO. Ernie Herrman has been promoted to president of TJX Cos. from his post of senior executive VP group president.

Meyrowitz will now have Herrman and Jeffrey Naylor, senior executive VP CFO and chief administrative officer, reporting to her.

January 6, 2011

Discount results a mixed bag as Target, Costco fall short and TJX outperforms

Discounters reported mixed results for December sales, with many, including Target Corp. and Costco Wholesale Corp., posting gains that fell below analysts’ expectations.

New York City -- Discounters reported mixed results for December sales, with many, including Target Corp. and Costco Wholesale Corp., posting gains that fell below analysts’ expectations.

Target Corp. said its same-store sales edged up 0.9%, well short of analyst expectations for a 4% increase. The chain said weaknesses in electronics, toys and some home categories offset strength in grocery and apparel items.

November 16, 2010

Sales and profits up at TJX

The TJX Cos.' fiscal third-quarter earnings rose 7%, topping its own forecasts, as the discount retailer's sales improved.

Framingham, Mass. -- The TJX Cos.' fiscal third-quarter earnings rose 7%, topping its own forecasts, as the discount retailer's sales improved.

The company reported a better-than-expected profit of $372.3 million, up from $347.8 million in the year-ago period. Net sales rose 5% to $5.53 billion, from $5.24 billion. Same-store sales increased 1%.

January 27, 2009

Former TJX CFO Reappointed to Role

The TJX Cos. said Wednesday that Jeffrey Naylor will resume the role of CFO following...

October 8, 2008

Stronger Dollar Impacts TJX Sales

The TJX Cos. said Thursday that same-store sales fell 1% in September, missing analyst projections,...

August 19, 2008

TJX Sells Bob’s Stores Division

The TJX Cos. said Wednesday that it has sold Bob’s Stores to private-equity firms Versa...

December 31, 2007

Carol Meyrowitz

If there were an award for grace under pressure, Carol Meyrowitz, 53, president and...