TJX Net Up 58 Percent in First Quarter

FRAMINGHAM, Mass.-First-quarter net income for The TJX Cos. ballooned by 58.4 percent to $331.4 million.

The driver in this bottom-line explosion was the company's 15 percent pickup in net sales, which finished the quarter at $5 billion and which included a 9 percent gain in same-store sales. In its statement on the first quarter, TJX said its Marmaxx unit (Marshalls and T.J. Maxx) posted a 10 percent increase in comparable store sales, while its HomeGoods segment saw same-stores sales jump 15 percent and the A.J. Wright unit experienced a 7 percent rise in same-store sales.

In addition, TJX's gross margin increased 446 basis points to 37.5 percent. The rise in sales and gross margin offset a 12 percent increase in selling, general and administrative expenses.

Carol Meyrowitz, TJX's president and chief executive officer, said the company's retail units have taken advantage of the focus on value from a wide demographic of consumers. Meyrowitz said the company is reinvesting in its stores and its marketing campaigns to attract and retain more new customers, while keeping its inventories lean and continuing its cost-reduction initiatives.

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.


  • Patti Carpenter Talks Color and its Importance in the Home

    Camera Icon   More Videos

Subscribe to
HFN Omnichannel
Receive the news you need to know about the trends in the industry delivered right to your inbox.

Current Issue

  • HFN August 2017 cover


    August 2017

    COVER STORY: Sharpening the Focus on Millennials

    Find out what makes Millennials tick when it comes to home decorating, shopping and at-home entertaining with HFN's annual consumer study. Turns out, Millennials favor the in-store shopping experience.


    • Power of the People - Crowdfunding campaigns provide needed capital, feedback for home and housewares product launches.
    •  Omnichannel Retailing: Visual Search Takes Off - Learn how voice and visual search are revolutionizing product discovery.