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.
Although it has faced recent challenges with coronavirus-related store closures, TJX could benefit from the market departure of a COVID-19 casualty, according to Placer.ai.
With a career spanning more than 30 years at TJX and a reputation to match, Jay Cunningham has been recognized by kitchenware vendors as a 2020 Impact Merchant.
NEW YORK— When Kroger published its “Sharing What We’ve Learned: A Blueprint for Businesses” to help business create safe working environments in the COVID-19 pandemic, the U.S. was simultaneously realizing how great an effect the coronavirus was having on life in the country and beginning to look forward to the end of movement and shopping restrictions that made them radically reconsider how they might purchase everything from food to durable goods such as major appliances.
A range of retailers across channels are responding to the coronavirus outbreak with moves to temporarily close their stores, reduce store hours and other consumer and employee oriented initiatives.
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.
With nearly 20 years of experience as a retail buyer with a focus on housewares, Steven D’Iorio, kitchenware buyer for HomeGoods, has become a trusted partner for many vendors who welcome his “responsiveness and fair pricing” when it comes to negotiations.