TJX Companies, Inc.

The nation’s leading off-price retailer reported better-than-expected sales in its first quarter fueled by a strong performance from T.J. Maxx and Marshalls.

TJX Cos. continued its winning ways in the fourth quarter with its 22nd quarterly comp increase and surging sales that beat estimates.

The TJX Companies will debut a new, off-price home store concept in August.    HomeSense will open its initial U.S. location on  August 17, in Framingham, Mass.  Three additional stores are planned by the end of 2017, with locations in East Hanover, N.J., Ocean Township, N.J., and Westwood, Mass.  

As a number of traditional chains across the industry continue to struggle, TJX Cos. is being called one of the country’s fastest growing retailers.   Traditional retailers industry-wide are blaming shifting consumer tastes, digital options and new competitors for not only stealing their wallet share, but for declining foot traffic and related sales. However, this could not be farther from the truth for TJX Cos.  

The TJX Companies had a rare sales miss in its first quarter, and gave second quarter guidance below expectations.    Net sales for the first quarter, ended April 29, increased 3% to $7.8 billion. Analysts had expected $7.88 billion. Consolidated same-store sales increased 1% over last year’s 7% increase, just missing analyst’ estimates.   

The U.S. shopper’s love affair with the off-price channel shows no signs of winding down any time soon.       Ross Stores easily beat analysts’ expectations as its earnings increased 13% in the quarter ended Oct. 29, amid better-than-expected revenue growth and stronger margins.   

Brad Maiorino, Target senior VP and chief information security officer, is the newest member of the Retail Cyber Intelligence Sharing Center (R-CISC) board of directors.

R-CISC is an organization of more than 50 members representing retail and other consumer-facing companies which provides a network to communicate about cyberthreats and vulnerabilities, and to share best practices in data protection and breach mitigation.

TJX shows no signs of losing its popular appeal with shoppers as the company reported stronger than expected traffic and same-store sales in the third quarter.

For the third quarter ended Oct. 31, same store sales at TJX Companies rose 5.3%. The company said net income fell to $587.3 million, from $595 million a year earlier. On a per share basis, net income rose to 86 cents per share from 85 cents, as the company had fewer shares outstanding. Revenue rose to $7.75 billion from $7.37 billion.