CrimeMay 23, 2025
JSA Shares Holiday Weekend Security Tips Amid Spike in BurglariesJSA’s Scott Guginsky provided a list of nine security measures jewelers should observe while locking up for the long weekend.
FinancialsAug 18, 2016
In a Time of Physical Shrinkage, TJX Looks to Grow
The operator of off-price retail chains has 3,675 stores worldwide but said it could see itself with as many as 5,600 in the long term.
Framingham, Mass.--In a time when many brick-and-mortar retailers are shuttering stores and diverting resources to online operations, The TJX Companies Inc. is going the other way.
Company President and CEO Ernie Herrman told Wall Street analysts Tuesday that the company’s “enormous global store growth potential” was among the factors expected to drive growth in the future.
Currently, TJX operates 3,675 stores: T.J. Maxx, Marshalls, HomeGoods and Sierra Trading Post in the United States as well as stores in Canada, Australia and Europe.
Herrman, who became CEO in February after the departure of Carol Meyrowitz, said this number could grow by more than 50 percent, eventually reaching 5,600 stores worldwide.
“This reflects the opportunity we see with just our current chain and just our current markets alone. And that’s before contemplating the potential to expand into new countries or open new chains in existing markets,” he said during the company’s second quarter earnings call.
The TJX Companies was among the few brick-and-mortar retailers that had a strong 2015, and that success has continued into the first half of fiscal year 2016.
http://www.nationaljeweler.com/majors/financial-reporting/3965-earnings-roundup-tj-maxx-jc-penney-come-out-on-top
In the post-recession retail world, off-price has been the leader, with companies such as TJX thriving and traditional department stores investing in off-price chains. Two examples are The Find @ Lord & Taylor and Macy’s Inc., which has been opening more Macy’s Backstage stores while shuttering full-line (non-outlet) locations.
In the second quarter ended July 30, the TJX Companies’ same-store sales were up 4 percent year-over-year and total sales rose from $7.34 billion to $7.88 billion, a 7 percent increase.
Net income was up 2 percent to $562.2 million.
Year-to-date, TJX’s comps are up 6 percent and total sales have risen 8 percent. Net income is $1.07 billion, up from $1.02 billion at this point last year, a 5 percent increase.
“We are convinced that we are gaining consumer market share as our excellent values on a compelling selection of brands and fashions are drawing customers to our retail brands around the world. We also are very pleased that our apparel, including accessories, and home businesses both performed well,” Herrman said in a company statement. “We believe our robust sales, customer traffic and merchandise margins all speak to the strength of our off-price retail model.”
More on Financials
The Latest
CollectionsMay 23, 2025
Piece of the Week: Bliss Lau’s ‘Bright’ RingFrom Lau’s “Love of a Kind” series, the engagement ring was inspired by the moon and holds a different meaning depending on how it is worn.
GradingMay 23, 2025
GIA Updates Pearl Classification SystemThe lab has adjusted the scale it uses for nacre grading.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
Supplier BulletinMay 22, 2025
How to Put Natural Diamonds Back in the SpotlightSponsored by GCAL by Sarine
Weekly QuizMay 22, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeMay 22, 2025
NY Jeweler Sentenced in Shoving Death of Colleague at IJO ShowDavid Walton will serve three years’ probation after an incident in a hotel bar led to the death of West Virginia jeweler David Ettinger.
IndependentsMay 22, 2025
Adeler Jewelers Celebrates 50 YearsThe family-owned jeweler in Great Falls, Virginia, will be celebrating its golden jubilee with a year’s worth of events.
Brought to you by
Watch: The Winston Red: GIA Examines the Smithsonian’s Newest AdditionSupplier Spotlight Sponsored by GIA
Events & AwardsMay 22, 2025
Jose Hess Design Awards Announce JudgesThe nonprofit elected five judges who will decide the winners of its design competition.
MajorsMay 22, 2025
MJSA Releases 2025-2026 Buyer’s GuideThis year’s edition includes articles on the favorite tools of notable designers, evaluating when to outsource production, and more.
CollectionsMay 21, 2025
Bulgari Highlights Its Colorful Past in Phenomenal ‘Polychroma’ CollectionThe jeweler’s high jewelry collection features extraordinary gemstones, like a 241.06-carat emerald and the world’s fourth-largest spinel.
ColumnistsMay 21, 2025
Edahn’s Take: Analyzing the 2025 ‘$100 Million Supersellers’ List In a special column for the State of the Majors, Edahn Golan breaks down what the top-performing fine jewelry sellers are doing right.
MajorsMay 21, 2025
Beyoncé Dons Brilliant Earth Necklace During Cowboy Carter TourThe bolo tie necklace is inspired by “Queen Bey” and set with a nearly 15-carat black diamond.
SourcingMay 21, 2025
Gem Legacy Expands Advisory CouncilThe nonprofit focused on mining communities in East Africa has added three new members to its advisory council.
MajorsMay 20, 2025
Annie Doresca to Lead DCA as New CEO, PresidentCurrent Diamond Council of America President and CEO Terry Chandler is set to retire in January 2026.
ColumnistsMay 20, 2025
Peter Smith: Leading Through ChangeCommunicating clearly with your staff is key to navigating turbulent times, writes columnist Peter Smith.
IndependentsMay 20, 2025
Luis Morais Opens Flagship, Launches Collection Celebrating 25 YearsThe “Inner Journey” collection debuted as the brand celebrated its 25th anniversary, with designs inspired by Morais’ journey.
MajorsMay 20, 2025
Tanishq Opens Seventh U.S. StoreTanishq is expanding its presence in the United States with a new store in Santa Clara, California, which is its largest in the country.
FinancialsMay 19, 2025
Jewelry Sales a Standout for Richemont in 2024Sales for Richemont’s four jewelry brands increased 8 percent, while watch sales picked up toward the end of the year.
Events & AwardsMay 19, 2025
NAJA Opens Scholarship Applications for 2025Two scholarships are available, one for new and non-members and another for NAJA certified members.
IndependentsMay 19, 2025
Day’s Jewelers to Open Ninth LocationThe retailer’s new flagship is set to open in October at the Tuscan Village development in Salem, New Hampshire.
SourcingMay 19, 2025
State of Colored Stones: The Big Three in the Modern WorldSapphires, emeralds, and rubies are finding their place in a U.S. market captivated by the gemstones once referred to as “semi-precious.”
MajorsMay 16, 2025
Saks Fifth Avenue, Amazon Partner on Luxury Online StorefrontPlus, parent company Saks Global announces plans to cut ties with up to 600 vendors.
Recorded WebinarsMay 16, 2025
Watch: Physical Retail Is Not DeadPeter Smith joined Michelle Graff to chat about the state of brick-and-mortar stores and share a few book and podcast recommendations.
CollectionsMay 16, 2025
Piece of the Week: Tejen’s ‘Candy Bowl’ Torque NecklaceThe necklace features a candy-colored Australian white opal in 18-karat Fairmined gold, as the brand was named a Fairmined ambassador.
Supplier BulletinMay 15, 2025
Treasure Hunting at the Las Vegas Antique Jewelry and Watch ShowSponsored by the Las Vegas Antique Jewelry and Watch Show
AuctionsMay 15, 2025
'The Mediterranean Blue' Diamond Sells for $21M at Sotheby’sA private American collector purchased the 10-carat fancy vivid blue diamond.
