TJX Companies, the parent company of popular retail brands like TJ Maxx, Marshalls, and HomeGoods, has reported net sales of $25.9 billion for the first half of fiscal 2025 (H1 FY25), marking a 6 per cent increase compared to the first half of fiscal 2024. The consolidated comparable store sales for H1 FY25 grew by 3 per cent. Net income for H1 FY25 was reported at $2.2 billion, with diluted EPS of $1.89, a 17 per cent increase from $1.62 in the same period of fiscal 2024.

The company's net sales for Q2 FY25 reached $13.5 billion, representing a 6 per cent increase compared to the same period in fiscal 2024. This growth was driven by a 4 per cent rise in consolidated comparable store sales, TJX Companies said in a press release.

In Q2 FY25, TJX Companies reported a net income of $1.1 billion, with diluted earnings per share (EPS) of $0.96, up 13 per cent from $0.85 in the second quarter of fiscal 2024. The company's pretax profit margin also improved, reaching 10.9 per cent, up from 10.4 per cent in the previous year’s second quarter. Additionally, the gross profit margin for Q2 FY25 increased to 30.4 per cent, a 0.2 percentage point rise from Q2 FY24. Selling, general, and administrative costs as a percentage of sales decreased by 0.3 percentage points to 19.8 per cent, reflecting enhanced operational efficiency.

A closer look at the company’s performance by division reveals that the Marmaxx (US) segment led the way with Q2 FY25 net sales of $8.445 billion, up from $7.903 billion in Q2 FY24, reflecting a 7 per cent growth. The HomeGoods (US) segment reported net sales of $2.101 billion, a 4 per cent increase from $2.011 billion in the same quarter last year. TJX Canada saw a 2 per cent rise in net sales, reaching $1.244 billion, while TJX International (Europe & Australia) achieved a 4 per cent increase in net sales to $1.678 billion.

The company also reported total inventories of $6.5 billion as of August 3, 2024, slightly down from $6.6 billion at the end of Q2 FY24.

“Our teams sharply executed on our mission to deliver great value to consumers every day. Our overall comp sales growth was entirely driven by customer transactions, which increased at every division. The performance of Marmaxx, our largest division, was outstanding, with a comp sales increase of 5 per cent. With our strong second quarter results, we are raising our full-year guidance for both pretax profit margin and earnings per share. The third quarter is off to a strong start,” said Ernie Herrman, chief executive officer and president of the TJX Companies.

Fibre2Fashion News Desk (DP)