×
83 728
Fashion Jobs
L'OREAL GROUP
Packaging Operator, m-f 3rd Shift
Permanent · Somerset
L'OREAL GROUP
Packaging Operator Weekend Nights
Permanent · Somerset
L'OREAL GROUP
Packaging Operator Weekend Days
Permanent · Somerset
L'OREAL GROUP
Packaging Operator m-f 2nd Shift
Permanent · Somerset
L'OREAL GROUP
Packaging Operator ii
Permanent · North Little Rock
NORDSTROM INC
Inventory Control Specialist - East Coast Fulfillment Center - Elizabethtown, PA
Permanent · Elizabethtown
NORDSTROM INC
Visual Production Manager
Permanent · Fullerton
NORDSTROM INC
Asset Protection Agent - st John's Town Center
Permanent · Jacksonville
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · Howell Township
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · Burlington
MARSHALLS
70118-lp Detective
Permanent · Visalia
MARSHALLS
70118-lp Detective
Permanent · Montgomery
MARSHALLS
Loss Prevention Customer Service Associate Part Time
Permanent · Grand Prairie
TJ MAXX
Regional Loss Prevention Manager - San Antonio or el Paso, tx Distribution Center
Permanent · San Antonio
TJ MAXX
Loss Prevention Customer Service Associate
Permanent · Portland
MARSHALLS
District Loss Prevention Manager - Palm Springs, ca
Permanent · Palm Springs
HOMEGOODS
Distribution Center Supervisor
Permanent · Lordstown
TJ MAXX
Distribution Center Loss Prevention Specialist-nj
Permanent · Jersey City
MARSHALLS
District Loss Prevention Manager - Baltimore, md
Permanent · Baltimore
MARSHALLS
Loss Prevention Detective
Permanent · Dallas
BANANA REPUBLIC
General Manager - Twelve Oaks
Permanent · Novi
COTY
National Account Manager, Sally Hansen, Rimmel & Fragrance Kroger
Permanent · Cincinnati
By
Reuters
Published
Aug 19, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

T.J. Maxx owner receives sales boost as customers return to stores

By
Reuters
Published
Aug 19, 2021

TJX Cos Inc on Wednesday beat market estimates for quarterly net sales, as the easing of COVID-19 curbs prompted Americans to return to brick-and-mortar stores ahead of the reopening of schools.


Reuters


Off-price retailers including TJX's T.J. Maxx and Burlington Stores weathered a tough 2020 when the pandemic accelerated a shift to e-commerce as the sector relies heavily on the treasure-hunt shopping experience it offers.

However, they have rebounded rather swiftly thanks to pent-up demand from U.S. customers who are armed with stimulus checks and child tax credit payments.

"Treasure-hunt shopping experience continued to draw customers into our stores around the world," TJX Chief Executive Officer Ernie Herrman said.

Open-only same-store sales at its Marmaxx U.S. division, which includes its U.S. T.J. Maxx and Marshalls stores, soared 18% from pre-pandemic levels two years ago, while its HomeGoods segment kept up its strong run during the health crisis, posting a 36% jump.

Big-box chain Target Corp also said apparel benefited from an early start to the back-to-school season in the second quarter. 

Analysts have said that even apparel sellers that bought a lot of inventory have been left with several empty shelves as students have been splurging on new tops and trousers ahead of their return to brick-and-mortar schools and colleges.

TJX said open-only same-store sales for the start of the third quarter were up mid-teen percentage from the third quarter of fiscal 2020.

The company, however, stopped short of providing a financial forecast, citing uncertainty at a time when COVID-19 Delta variant cases are increasing across its markets.

Its second-quarter net sales rose 81% to $12.08 billion from a year earlier, above estimates of $11.04 billion. Excluding items, TJX earned 79 cents per share, beating Refinitiv IBES estimates of 57 cents.

© Thomson Reuters 2021 All rights reserved.