HomeGoods delivered strong comparable sales gains for TJX Cos. in a fourth quarter and fiscal year when the company struggled to overcome store closings and other effects of the coronavirus pandemic.
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.
The TJX Companies board of directors has elected C. Kim Goodwin to the board, effective immediately.
The TJX Companies board of directors has elected José Alvarez to the board, effective immediately. Alvarez previously served on TJX’s board of directors from 2007 through 2018.
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.
Home operations buoyed TJX through a second quarter during which stores reopened after closures related to the COVID-19 pandemic.
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.
COVID-19 disrupted TJX’s fiscal 2021 first quarter operations, but while posting a deep loss, the company reported reopening its store and e-commerce businesses.
As the company responds to the rapidly changing COVID-19 crisis, TJX has extended the temporary closure of its stores, distribution centers, offices, and e-commerce sites.
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.
TJX accelerated past market expectations for its fourth quarter and fiscal year, with strong comparable sales gains across its off-price retail banners.
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.
TJX has launched a third e-commerce website, Marshalls.com, one that will offer a different mix of products than its brick-and-mortar cousin.
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.
TJX enjoyed a strong first quarter performance, highlighted by a solid comparable store sales increase above the company’s expectations.
TJX continued to strengthen its comp performance across all of its off-price banners in a strong fourth quarter.
TJX touted a strong third quarter, as consolidated company comparable store sales advanced 7%, but earnings, although up, fell short of Wall Street expectations.
The TJX Companies has elected Rosemary Berkery to its board of directors.