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Comps moderate at TJX and Ross
Same store sale decelerated for The TJX Companies and Ross Stores during January even though both companies increased their full year profits forecasts.
TJX, operator of Marshalls and T.J. Maxx stores, said comps increased 3% during the period ended January 28. That figure was better than expected, but less than half the prior year gain of 7%. Sales for the five week period ended February 2 increased nearly 36% to $1.9 billion due to the inclusion of an additional week.
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Macy's, Kohl's post positive comps
NEW YORK — Department store retailers reported strong sales in January as shoppers responded positively to post-holiday clearance events.
Overall, the 20 retailers reporting January comps saw an average rise of 5.1%, according to the International Council of Shopping Centers, which beat the mall trade group’s 3% forecasted rise.