FRAMINGHAM, Mass.–TJX, parent company of retail chains TJMaxx, Marshalls and HomeGoods, set new records for both the top and bottom lines in the second quarter.
Net income rose 30.6 percent to $262.6 million, while net sales totaled $4.7 billion or 4 percent ahead of last year’s second quarter. The sales gain included a 4 percent pickup in same-store sales, which in turn encompassed a 9 percent jump in comparable-store sales for HomeGoods and a 4 percent rise for the Marmaxx chains (TJMaxx and Marshalls taken together). The sales increase offset a 3.5 percent uptick in selling, general and administrative expenses and a 2.5 percent rise in cost of goods sold.
In a TJX statement, Carol Meyrowitz, president and chief executive officer, said the company enjoyed “strength across the board, with virtually all of our divisions either meeting or exceeding our second-quarter targets.”
Looking ahead, TJX said it expects same-store sales to grow from 2 percent to 4 percent in the third quarter, and from 2 to 3 percent for the full fiscal year.