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TJX net sales increase
Framingham, Mass. – The TJX Companies, Inc. reported increased net sales during first quarter fiscal 2014. Revenue rose almost 7% from the same quarter a year earlier to about $6.2 billion, while same store sales grew 2% on top of an 8% increase from last year. Net earnings totaled $453 million.
CEO Carol Meyrowitz said that a flexible business model allowed TJX to have a profitable quarter despite adverse weather conditions. “Flowing the right merchandise at the right time continued to be key to strong merchandise margins,” she said. -
Ikea, Walmart anchor new shopping center
BEACHWOOD, Ohio — Ikea and Walmart are among the retailers heading to Charlotte, N.C., to anchor the Belgate Shopping Center. The new 900,000-sq.-ft. shopping center is DDR Corp.’s first ground-up domestic development in more than four years.
The center will also include junior anchors Marshalls, Old Navy, Petco, ULTA, Cost Plus World Market, Hobby Lobby and Shoe Carnival.