It was hard to find any shred of upbeat news in the apparel industry last week, when heavyweights Macy’s, Kohl’s and Nordstrom all reported disappointing spring sales results. But on Tuesday, the parent company of T.J. Maxx and Marshalls dropped a roaring first-quarter earnings report that showed no signs of the troubles engulfing its mid-price clothing counterparts. TJX Cos. saw revenue increase 10 percent to $7.5 billion, and recorded a 7 percent increase in comparable sales, or sales at stores open more than a year. The retailer even raised its earnings forecast for the year based on how strong business was in the first quarter.
The results continue a hot streak for a company that has for over a year managed to avoid the general malaise at the mall. And its success offers some insight about what is – and isn’t – proving enticing to customers in the current shopping environment. Read more at Chicago Tribune.