299
Fashion Jobs
L'OREAL GROUP
Assistant CRM Manager
Permanent · HONG KONG
L'OREAL GROUP
Key Account Manager
Permanent · HONG KONG
H&M
Total Rewards Manager, Supply Chain
Permanent · TSIM SHA TSUI
H&M
Accounts Specialist
Permanent · TSIM SHA TSUI
ESTÉE LAUDER COMPANIES
Assistant Demand Planning Manager
Permanent · HONG KONG
ESTÉE LAUDER - BRAND
Retail Marketing Manager, Estée Lauder
Permanent · HONG KONG
CLINIQUE
Assistant Education Manager, Clinique
Permanent · HONG KONG
CLINIQUE
Senior Marketing Manager, Clinique
Permanent · HONG KONG
TOMMY HILFIGER
Senior Manager, Creative Services, Tommy Hilfiger Asia Pacific
Permanent · HONG KONG
AESOP
Retail Consultant
Permanent · SHA TIN
NEWELL
Senior Manager, Indirect Sourcing
Permanent · HONG KONG
L'OREAL GROUP
Group Product Manager
Permanent · HONG KONG
ADIDAS
Senior Manager, Materials Availability Management
Permanent · HONG KONG
L'OREAL GROUP
Assistant Purchasing Manager (Marketing, Digital IT)
Permanent · HONG KONG
PUMA
Manager Innovation Technical Apparel
Permanent · HONG KONG
DR. MARTENS
Head of Financial Accounting, Apac
Permanent · TSIM SHA TSUI
TJX COMPANIES
Director of Sourcing, Apparel -Hong Kong
Permanent · HONG KONG
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Hysan Place
Permanent · CAUSEWAY BAY
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Yoho Mall
Permanent · HONG KONG
A & F
Abercrombie & Fitch - Brand Representative (Part-Time / Full-Time), Harbour City
Permanent · TSIM SHA TSUI
KERING EYEWEAR
Kering Eyewear Assistant Trade Marketing Manager Travel Retail
Permanent · HONG KONG
JAEGER
Training Manager
Permanent · HONG KONG
By
Reuters
Published
Aug 19, 2021
Reading time
2 minutes
Download
Download the article
Print
Text size

T.J. Maxx owner receives sales boost as customers return to stores

By
Reuters
Published
Aug 19, 2021

TJX Cos Inc on Wednesday beat market estimates for quarterly net sales, as the easing of COVID-19 curbs prompted Americans to return to brick-and-mortar stores ahead of the reopening of schools.


Reuters


Off-price retailers including TJX's T.J. Maxx and Burlington Stores weathered a tough 2020 when the pandemic accelerated a shift to e-commerce as the sector relies heavily on the treasure-hunt shopping experience it offers.

However, they have rebounded rather swiftly thanks to pent-up demand from U.S. customers who are armed with stimulus checks and child tax credit payments.

"Treasure-hunt shopping experience continued to draw customers into our stores around the world," TJX Chief Executive Officer Ernie Herrman said.

Open-only same-store sales at its Marmaxx U.S. division, which includes its U.S. T.J. Maxx and Marshalls stores, soared 18% from pre-pandemic levels two years ago, while its HomeGoods segment kept up its strong run during the health crisis, posting a 36% jump.

Big-box chain Target Corp also said apparel benefited from an early start to the back-to-school season in the second quarter. 

Analysts have said that even apparel sellers that bought a lot of inventory have been left with several empty shelves as students have been splurging on new tops and trousers ahead of their return to brick-and-mortar schools and colleges.

TJX said open-only same-store sales for the start of the third quarter were up mid-teen percentage from the third quarter of fiscal 2020.

The company, however, stopped short of providing a financial forecast, citing uncertainty at a time when COVID-19 Delta variant cases are increasing across its markets.

Its second-quarter net sales rose 81% to $12.08 billion from a year earlier, above estimates of $11.04 billion. Excluding items, TJX earned 79 cents per share, beating Refinitiv IBES estimates of 57 cents.

© Thomson Reuters 2024 All rights reserved.