TJX reported Q2 2020 results for the period ended on August 3, 2019.

Q2 2020 Performance

  • Consolidated net sales for Q2 2020 were up 5% to USD9.8 billion.
    • Net sales for Marmaxx US increased 4% to USD6.1 billion.
    • Net sales for HomeGoods US increased 7% to USD1.4 billion.
    • Net sales for TJX Canada increased 3% to USD967 million 
    • Net sales for TJX International increased 5%to USD1.2 billion.

Consolidated comparable store sales increased 2%.

  • Comps for Marmaxx increased 2%.
  • Comps for HomeGoods remain flat.
  • Comps for TJX Canada were up 1% and TJX International increased 6%.
  • Net income for Q2 2020 was USD759 million.

Year-To-Date: Performance

  • Year-to-date consolidated net sales increased 6% to USD19.05 billion. Consolidated comparable store sales increased 4%.
    • Net sales for Marmaxx US increased 6% to USD11.90 billion.
    • Net sales for HomeGoods US increased 9% to USD2.82 billion.
    • Net sales for TJX Canada increased 1% to USD1.81 billion.
    • Net sales for TJX International increased 5% to USD2.51 billion.

As of August 3, 2019, TJX operated 4,412 stores in North America, Europe and Australia. In USA: 1,260 T.J. Maxx, 1,107 Marshalls, 783 HomeGoods, and 39 Sierra Trading Post and 23 Homesense stores.

In Canada: 274 Winners, 132 HomeSense, and 91 Marshalls stores.

In Europe: 580 T.K.Maxx, and 72 HomeSense stores.

In Australia: 51 TK Maxx stores.

Outlook Q3 2020 and FY 2020

  • The retailer expects consolidated comparable store sales for Q3 2020 to be in the range of 1% to 2% and for Marmaxx it is expected to be in the range of 1% to 2%.
  • The retailer’s consolidated comparable store sales including Marmaxx are expected to grow in the range of 2% to 3% for FY2020.

 

Source: TJX PR