-
Earnings soar at TJX
FRAMINGHAM, Mass. — The TJX companies reported that sales for the 14-week fourth quarter ended Feb. 2 were $7.7 billion, a 15% increase over the prior year. Consolidated comparable-store sales for the quarter on a 13-week basis increased 4% over the prior year’s 7% increase.
Net income for the 14-week fourth quarter was $605 million and diluted earnings per share were 82 cents, a 32% increase over last year’s 62 cents.
-
Macy's CEO takes stand in Martha Stewart case
NEW YORK — Terry Lundgren, CEO of Macy’s, took the stand on Monday to testify in the trial of two Macy's lawsuits regarding the deal between JCPenney and Martha Stewart Living Omnimedia Inc. The long-awaited trial began last Wednesday, in New York Supreme Court.
The trial is about whether Macy’s has the exclusive right to sell Martha Stewart branded cookware, bedding and certain other products.