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TJ Maxx to open first new store in New York City in over a decade

Off-price department store chain TJ Maxx has signed a new major long-term lease with JEMB Realty to open its first flagship store in New York City in over a decade. TJ Maxx is set to open a new 40,000 square feet flagship store on the ground and lower levels of Herald Towers. Additional details regarding the flagship store opening date have yet...

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TJX exceeds expectations in Q2 2026, raises full-year guidance

The TJX Companies, Inc. announced strong sales and operating results for the second quarter of its fiscal year 2026. Net sales for the quarter were 14.4 billion dollars, a 7 percent increase compared to the same period in the previous fiscal year. The company's second-quarter consolidated comparable sales increased by 4 percent. Net income for...

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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...

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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...

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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...

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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...

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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...

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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...

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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...

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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...

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Marshalls debuts first-ever online store

Marshalls has finally joined the world of e-commerce. With over 1,100 stores in the U.S. and Canada, retailer has been a fan-favorite for selling off-price clothing, accessories and home goods for decades. Now, Marshalls is bringing its same discount finds online. The retailer has been owned by parent company TJX Companies since the...

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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...