HomeGoods A Star in TJX Q2
August 18, 2015,
FRAMINGHAM, Mass.-HomeGoods proved a winner again for The TJX Cos. in its fiscal second quarter, recording a net sales gain of 15.8 percent, to $895 million, and same-store sales growth of 9 percent.
These results were part of TJX’s overall net sales increase of 6.5 percent in the quarter, which ended on Aug. 1. Net sales finished the quarter at $7.4 billion and included a companywide same-store sales increase of 6 percent. Net income rose 6.1 percent to $549.3 million.
Net sales at TJX’s Marmaxx group (T.J.Maxx and Marshalls) totaled $4.8 billion, up 6.9 percent. This included a same-store sales pickup of 4 percent.
Gross margin finished the quarter at 29.1 percent, up 48 basis points from last year’s second quarter. Selling, general and administrative expenses rose 11.1 percent in dollars and 71 basis points as a percentage of sales, to 16.9 percent.
Meyrowitz also said the third quarter “is off to a solid start ... Today, we are a nearly $30 billion retailer with a clear vision for growth, a differentiated apparel and home fashions business, and a world-class organization.” She added that the company continues on course to eventually become a $40 billion-plus retailer.