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TJX reports above-plan Q3, HomeGoods sale comps up 15%

Wednesday, Nov 18, 2020

  • Q3 FY21 overall open-only comp store sales decreased 5%, which was well above the retailer’s plans
  • Reported Q3 FY21 net sales of $10.1 billion
  • HomeGoods Open-Only Comp Store Sales up 15%

According to a press release issued by TJX, “During the third quarter, the Company generated $4.1 billion of operating cash flow and ended the quarter with $10.6 billion of cash. With the Company’s strong liquidity position, TJX announced that it expects to reinstate a quarterly dividend in the fourth quarter of Fiscal 2021”

“Our third quarter results significantly exceeded our plans on both the top and bottom lines as consumers were drawn to our compelling brands and values. All of our divisions drove sales above our plans, and our home, beauty, and activewear businesses outperformed at Marmaxx, TJX Canada, and TJX International. At HomeGoods, we delivered another quarter of double-digit open-only comp store sales growth. Longer term, when we are past this health crisis, we are very confident that we will continue to gain more customers and drive the successful growth of TJX well into the future,” said Ernie Herrman, Chief Executive Officer and President of TJX Companies, Inc.

During Q3, “the Company increased its store count by 17 stores to a total of 4,574 stores and increased square footage by 1% over the same period last year.”

Source: TJX Press Release
Photo Credit: Unsplash, TJX

About The TJX Companies, Inc.
The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. As of October 31, 2020, the end of the Company’s third quarter, the Company operated a total of 4,574 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 1,272 T.J. Maxx, 1,134 Marshalls, 821 HomeGoods, 48 Sierra, and 34 Homesense stores, as well as tjmaxx.com, marshalls.com, and sierra.com in the United States; 280 Winners, 143 HomeSense, and 102 Marshalls stores in Canada; 602 T.K. Maxx and 78 Homesense stores, as well as tkmaxx.com, in Europe; and 60 T.K. Maxx stores in Australia. TJX’s press releases and financial information are available at TJX.com.

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