×
69 413
Fashion Jobs
ESTEE LAUDER
Manager, Channel Marketing, Aveda na
Permanent · New York
ESTEE LAUDER
Area Manager, Production - Bristol - 2nd Shift
Permanent · Bristol
ESTEE LAUDER
Keyholder - The Cosmetic Company Store - 20hrs - Philadelphia Premium Outlets - Pottstown,PA
Permanent · Pottstown
ESTEE LAUDER
Area Manager, Technical Services - Bristol - 2nd Shift
Permanent · Bristol
ASCENA
Part Time Sales Manager - Ann Taylor, The Woodlands Mall
Permanent · The Woodlands
LEVI'S
Art Director
Permanent · Remote
LULULEMON
Assistant Manager, Operations | Ponce City Market
Permanent · Atlanta
LULULEMON
Assistant Manager, Operations | Arizona Market
Permanent · Scottsdale
LULULEMON
Assistant Manager, Guest Experience | Arizona Market
Permanent · Scottsdale
ULTA BEAUTY, INC.
Skin Care Consultant
Permanent · Fort Walton Beach
ULTA BEAUTY, INC.
IT Manager - End User Services
Permanent · Bolingbrook
ULTA BEAUTY, INC.
Tax Analyst - Sales & Use Compliance
Permanent · Bolingbrook
ULTA BEAUTY, INC.
General Manager
Permanent · Walker
ULTA BEAUTY, INC.
General Manager
Permanent · Baltimore
ULTA BEAUTY, INC.
Inventory Control Specialist
Permanent · Bolingbrook
ULTA BEAUTY, INC.
General Manager
Permanent · Harker Heights
ULTA BEAUTY, INC.
Retail Sales Manager
Permanent · Jacksonville Beach
ULTA BEAUTY, INC.
Retail Operations Manager
Permanent · Wall Township
ULTA BEAUTY, INC.
General Manager
Permanent · Carbondale
URBN
Anthropologie Buyer - Upholstery
Permanent · PHILADELPHIA
URBN
Free People Senior Merchandise Planner
Permanent · PHILADELPHIA
ALICE AND OLIVIA
Sales Supervisor - Los Angeles
Permanent · Los Angeles
By
Reuters
Published
Feb 24, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

T.J. Maxx parent misses estimates as lockdowns cut sales by $1 billion

By
Reuters
Published
Feb 24, 2021

Discount store operator TJX Cos Inc missed estimates for holiday-quarter results on Wednesday, as coronavirus-induced lockdowns in Europe and Canada shaved about $1 billion off its sales.


TK Maxx



Shares of the T.J. Maxx parent fell about 3% to $68.38 in premarket trading.

Sales of retailers that sell discretionary items have remained pressured since the onset of the pandemic, as declining income among households have prompted people to cut their spending on dresses and suits.

A resurgence in COVID-19 cases and ensuing lockdowns also meant off-price chains, which bring in only a fraction of sales from their online channels and rely largely on the treasure hunt shopping experience, suffered yet another blow.

TJX, which operates more than 1,200 stores under various banners such as HomeSense and T.K. Maxx in Canada and Europe, estimated that temporary store closures cut its fourth-quarter sales by about $950 million to $1.05 billion.

TJX said about 690 stores were temporarily closed as of Wednesday due to government mandates and that it expected European stores to be shuttered for two-thirds of the current quarter.

Net sales fell to $10.94 billion in the quarter ended Jan. 30, from $12.21 billion a year earlier. Analysts had expected sales of $11.48 billion, according to IBES data from Refinitiv.

Net income slumped to $325.5 million, or 27 cents per share, from $984.8 million, or 81 cents per share, a year earlier.

On an adjusted basis, TJX earned 50 cents per share, compared with estimates of 62 cents.

However, TJX said comparable sales at stores that remained open during the first three weeks of the current quarter showed improvement sequentially.

© Thomson Reuters 2022 All rights reserved.