TJX Companies revealed in their annual report net sales for the past fiscal year were $29.1 Billion. This is greater than Macy’s report of $28.1 Billion. This marks a 6.2% sales increase for the year, and 4th quarter earnings jumped 15%.
TJX Companies operates retail stores in the US as T.J.Maxx, Marshalls and HomeGoods, and recently added Sierra Trading Post. In Canada, they operate Winners, HomeSense and Marshalls. In Europe they have T.K.Maxx and HomeSense. The company sources from more than 16,000 vendors in 75 countries.
The retailer features brand-name merchandise at value prices. Because the company has aggressive inventory management, assortments change quickly and customers have learned to buy what they like when they see it. Their offerings are unique, timely, attractive and at a perceived value. Other major retailers are taking note and they want a piece of the off-price action.
Shares of some top department store retail companies were mixed at the close of trading yesterday, March 9:
Kohl’s Corp. rose $.80 or 1.1 percent, to $73.71.
Macy’s Inc. fell $.42 or .7 percent, to $62.56.
Nordstrom fell $.52 or .6 percent, to $80.34.
J.C. Penney Co. fell $.32 or 4.2 percent, to $7.33.
Sears Holdings Corp. fell $1.80 or 4.6 percent, to $37.21.
TJX Companies rose $.20 or .3 percent, to $68.23.
Source: Forbes.com and Yahoo Finance
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