TJX did better than it thought it might in the third quarter, the company maintained, as HomeGoods performed particularly well and as the parent began taking steps to launch a dedicated e-commerce operation for the banner. Digital sales at homegoods.com will begin next year.
For the third quarter, TJX kept rolling, pointing to customer traffic as driving its earnings and sales performance as the off-price retailer positioned its holiday marketing campaigns for the fourth quarter.
For the second quarter, HomeGoods comparable sales, which now include those for HomeSense stores in the U.S., came in flat even as overall TJX posted a positive 2% comp.
According to research by Fung Global Research & Technology, notions of a “retail apocalypse” in the U.S. have been driven by apparel specialty and apparel-focused department store closures and ignore strength in other brick-and-mortar based channels.
The near future looks bright for off-price retailers, while department stores will continue to face challenges, according to a recent report from Moody’s Investors Service.
As TJX Companies brings its HomeSense store concept to the U.S. with a total of four locations expected to open this year, the retailer also has larger expansion plans.
The Harris Poll 2016 EquiTrend Study ranked The Home Depot as retailing’s 2016 hardware and home brand of the year…
The Harris Poll has released its 28th annual EquiTrend Study, identifying consumer’s top brand picks, including in the retail and…