TJX Reports Q2 Earnings with Increased Sales in Discount Apparel Sector

TJX Companies reported a 5.6% sales growth in Q2, reaching $13.5 billion in net sales.

The company opened its 5,000th store, adding to its global presence.

During regular trading, stock increased b– TJX owns brands like TJ Maxx, Marshalls, HomeGoods, Winners, and Homesense. – y 2.8% to $343.36.

It ranks No. 64 in Digital Commerce 360's Top 1000 online retailers.

TJX's projected web sales for 2024 are $1.6 billion.

Comparable sales increased in both apparel and home categories.

The pretax profit margin rose to 10.9%, up 50 basis points from last year.

Marmaxx's comparable store sales grew by 5%, with a 14.1% segment profit margin.

The company is expanding into Mexico through a joint venture with Axo.

Analysts are optimistic about TJX’s future, noting strong store visitation and inventory levels.