TJX Companies, Inc. reports above-guidance Q4 results; sales up 6%; FY20 net sales reported at $41.7B showing a 7% increase over the same period last year.
Ernie Herrman, Chief Executive Officer and President of The TJX Companies, Inc., in a press release stated, “We are extremely pleased with our strong fourth quarter results, as both sales and earnings per share significantly exceeded our expectations. Fourth quarter consolidated comparable store sales increased a very strong 6%, over a 6% increase last year.”
Herrman continued, “We see plentiful opportunities for TJX in today’s retail landscape and are confident we will continue to capture market share.”
A few weeks after the company’s press release, StarTribune reported T.J. Maxx to add three Sierra stores in Minnesota.
The company currently operates 45 Sierra stores in the U.S., with plans to open 10 more this year.
Source: StarTribune 3/10/20, TJX Investor Press Release 2/26/20
Photo Credit: TJX BofD, Sierra Instagram
About TJ Maxx
The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. As of February 1, 2020, the end of the company’s fiscal year, the company operated a total of 4,529 stores in nine countries, the United States, Canada, the United Kingdom, Ireland, Germany, Poland, Austria, the Netherlands, and Australia, and four e-commerce sites. These include 1,273 T.J. Maxx, 1,130 Marshalls, 809 HomeGoods, 46 Sierra, and 32 Homesense stores, as well as tjmaxx.com, marshalls.com, and sierra.com in the United States; 279 Winners, 137 HomeSense, and 97 Marshalls stores in Canada; 594 T.K. Maxx and 78 Homesense stores, as well as tkmaxx.com, in Europe; and 54 T.K. Maxx stores in Australia. TJX’s press releases and financial information are available at TJX.com.