August 16, 2016
TJX earnings hit $562M on growing consumer traffic
TJX Cos. of Framingham announced strong second quarter.
By Stephanie Meagher
As other retailers continue to pull back from brick-and-mortar locations, TJX is reporting continued growth in-store traffic that resulted in $562 million in earnings in the second quarter of the year.
Those earnings for the Framingham off-price retailer were up 2.3 percent for the first quarter and up 4.5 percent for the first half of the year to $1.07 billion.
Sales were up 7 percent for the first quarter to $7.9 billion. The largest store sales growth was seen in Canada, with a 9 percent increase.
On the back of the news, the company raised its guidance for full year sales to increase by 4 percent, from previous guidance of 3 percent. CEO Ernie Herrman said the third quarter is off to a solid start.
WBJ Web Partners
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