TJX February sales rose 7 percent
TJX Cos., the Framingham company that operates such retail chains as T.J. Maxx, Marshalls, and HomeGoods, said in a Thursday press release that its February sales were $1.8 billion, up 7 percent from the same month a year ago, despite many winter storms in certain parts of the US and Canada.
At stores open at least a year, sales were up 1 percent on a year-to-year comparison basis.
TJX refers to that metric as comparable store sales, or comp store sales. Others in the industry refer to it as same-store sales. By whatever name, it is closely watched measure of a retailer’s performance.
In a statement, TJX chief executive Carol Meyrowitz said: “Business trends picked up at the very end of the month, leading to our February comp store sales coming in higher than expected at a 1 percent increase. Winter storms in many US and Canadian regions kept customers at home, but we were pleased to see our momentum continue in warmer weather markets. Further, our home businesses, which are less weather sensitive, were strong across the board. We are also happy with the continued strength of our European businesses. As we move through the spring selling season, we are in an excellent position to continue shipping great brands and fresh fashions to our stores at extreme values.”