The US-listed parent company of discount retail brands HomeSense and TK Maxx, TJX Companies, has communicated a sales growth of 7% to $7.9bn (£6bn) for the group’s FY2017 Q2 performance ended 30 July 2016.
Combining the firm’s retail ventures in the UK, Europe and North America, bosses stated that strong customer traffic continued to boost performance, as net income for the second quarter was up to $562.1m (£427.2m) from $549.3m (£417.4m) year-on-year.
TJX currently boasts a European estate of approximately 473 TK Maxx and 43 HomeSense stores, with two new openings each established during the period. The company said that it was ‘very pleased’ to see its home businesses ‘perform’ well.
Ernie Herrman, chief executive officer and president of The TJX Companies, Inc., stated: “It was terrific to see our strong customer traffic and comps continue in the second quarter. Our consolidated comparable store sales increase of 4%, over 6% growth last year, and our earnings per share increase of 5% both exceeded our expectations.
“With our above-plan second quarter results, we are raising our guidance for full year comp sales to increase 3% to 4%. The third quarter is off to a solid start, and we see plentiful opportunities for our business in the second half of the year and beyond. We continue on the road to becoming a $40bn (£30.4bn)-plus company.”