TJX Companies Inc., leading off-price retailer of apparel and home fashions in the US and worldwide, has announced its financial results for the third quarter ended October 29, 2016. The company’s net sales surged 7 per cent to US $ 8.3 billion. Net income for the third quarter stood at US $ 550 million. During the period, the company increased its store count by 110 stores to a total of 3,785 stores.
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The company also revealed their results for the first nine months of fiscal 2017. In the period under review, net sales totalled US $ 23.7 billion, up by 8 per cent from the same period last year. Its consolidated comparable store sales soared 5 per cent. Net income generated by the income amounted to US $ 1.6 billion.
Ernie Herrman, CEO and President, TJX stated, “We are extremely pleased that our strong momentum in customer traffic and sales continued in the third quarter. We will be offering consumers eclectic gift selections from around the world, all at exciting values, and shipping fresh assortments to our stores right through December and beyond. We are on our way to becoming a $40 billion-plus company!”
TJX Companies has 3,785 stores in nine countries. It operates T.J. Maxx and Marshalls (Marmaxx), HomeGoods and Sierra Trading Post, tjmaxx.com and sierratradingpost.com in the United States; Winners, HomeSense, and Marshalls (combined, TJX Canada) in Canada; and T.K. Maxx, HomeSense, tkmaxx.com in Europe.
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