TJX Companies Earnings: Sales Soar 129%
TJX Companies (NYSE: TJX) just posted one of its strongest quarters in recent memory. Sure, the off-price apparel specialist's year-over-year numbers sparkled compared to last year's period of lockdowns during the initial phases of the COVID-19 pandemic. Yet the business even sailed past its 2019 first-quarter result despite pressure from continued store closures.
Let's dive right in.
Revenue more than doubled to $10.1 billion, compared to a year ago, when roughly 50% of TJX's Marshalls and T.J. Maxx stores were completely closed to customer traffic. To reduce some of the noise involved with that unusual comparison, management said comparable-store sales for locations that were open for the entire period rose 16%.
Source Fool.com
