TJX shows value in Q2

Framingham, Mass. – The TJX Companies Inc. showed value to its investors in a strong second quarter of fiscal 2016 where it beat Wall street expectations for both profit and sales. The elimination of a debt extinguishment loss and lower interest expenses helped push net income up 6% to $549.33 million, from $517.62 million the same period the prior fiscal year.



Net sales rose 6% to $7.36 billion from $6.92 billion. TJX same-store sales rose 6% on higher traffic. This included 4% growth in Marmaxx same-store sales and 9% growth in HomeGoods same-store sales in the U.S., as well as 12% growth in TJX Canada same-store sales and 5% growth in TJX Europe same-store sales.



“We are extremely pleased that our momentum continued in the second quarter,” said Carol Meyrowitz, chairman and CEO. “Our 6% consolidated same-store sales growth and 7% adjusted EPS growth significantly exceeded our expectations. It was great to see that same-store sales were entirely driven by customer traffic – our fifth consecutive quarter of sequential traffic improvement – and that we had strong sales across all of our divisions.”