QURATE has seen sales drop in apparel and the kitchen category....I thought this article was interesting because this retailer seems to exceed in these catogories....so maybe it's not retail or the economy ...its retail exec decisions...
FRAMINGHAM, Mass.--(BUSINESS WIRE)--Aug. 20, 2019-- The TJX Companies, Inc. (NYSE: TJX), the leading off-price apparel and home fashions retailer in the U.S. and worldwide, today announced sales and earnings results for the second quarter ended August 3, 2019. Net sales for the second quarter of Fiscal 2020 increased 5% to $9.8 billion.
- Consolidated comp store sales increased 2%, over last year’s 6% increase
- Customer traffic was the primary driver of the consolidated comp store sales increase and was up at all four major divisions
For the first half of Fiscal 2020, net sales were $19.1 billion, a 6% increase over the same period last year. Consolidated comparable store sales for the first half of Fiscal 2020 increased 4%. Net income for the first half of Fiscal 2020 was $1.5 billion, and diluted earnings per share were $1.19, versus the prior year’s $1.15.
Ernie Herrman, Chief Executive Officer and President of The TJX Companies, Inc., stated, “For the second quarter, earnings per share were at the high end of our expectations. We were very pleased that customer traffic drove our consolidated comp and was up at each of our four major divisions.
This quarter marks the 20th straight quarter of customer traffic increases at TJX and Marmaxx. This speaks to the consistency and fundamental strength of our treasure-hunt shopping experience through many types of retail and economic environments. The third quarter is off to a solid start.
We feel great about the terrific availability we are seeing in the marketplace for branded, quality merchandise and our ability to capitalize on the opportunities. We are excited about our many initiatives underway to keep driving sales and customer traffic throughout the fall and holiday selling season, and have great confidence in our potential to keep gaining market share around the world!”
******************************************************************
Walmart also did well:
Walmart on Thursday reported second-quarter earnings that topped expectations and raised its outlook for the full year, building on the momentum in its core U.S. business, online operations and investments in grocery.
It marked the 20th consecutive quarter of sales gains in the U.S. for Walmart and its 19th quarter of traffic growth on its home turf.
* Same-store sales: up 2.8% vs. 2.1% expected
“Customers are responding to the improvements we’re making, the productivity loop is working, and we’re gaining market share,” CEO Doug McMillon said in a statement.
Animals are reliable, full of love, true in their affections, grateful. Difficult standards for people to live up to.”
Blogs & Forums
Forums
Blogs
