“We have huge opportunities to attract more U.S. and international customers with our values,” Meyrowitz said during a conference call detailing solid third-quarter earnings. “Over the last three years, our customer traffic is up [by a percentage in the] midteens, and it continued to be up in the third quarter.”
TJX has 2,355 stores in the U.S., as well as 367 doors in Europe and another 324 in Canada.
Meyrowitz noted the company could add up to another 508 stores in its current European markets. “The opportunity for future growth of Europe is vastly underrated by others,” she said. “Executed well, the off-price concept can work in almost any country where brands and value matter. We believe that we’re the only off-price retailer with the international experience to say that.”
The company is also looking at the opportunities in the e-commerce arena and expects to have an update when it reconvenes with analysts to go over year-end results.
TJX’s third-quarter net income increased 13.5 percent to $461.6 million, or 62 cents a diluted share, from $406.5 million, or 53 cents, a year earlier. Earnings came in 1 cent ahead of the 61 cents analysts projected and shares of the company gained 2.7 percent to $42.06 Tuesday.
Sales for the three months ended Oct. 27 advanced 10.7 percent to $6.41 billion from $5.79 billion with a 7 percent rise in comparable-store sales.
TJX, which operates the T.J. Maxx and Marshalls chains in the U.S., said fourth-quarter earnings per share would range from 72 cents to 75 cents — that would be a gain from 62 cents in earnings a year earlier, but below the 76 cents Wall Street had penciled in.
Comp sales are slated to range from flat to up 2 percent for the quarter. TJX’s comps rose 2 percent in the year-ago quarter and were up 12 percent in the fourth quarter of fiscal 2010.
There'll be no rest for those headed to Europe for men's, as Paris just closed the gap with Milan. According to a provisional calendar released by the Chambre Syndicale, Paris Men's Week will now open a day earlier on January 16. See new highlights on the official lineup on WWD.com. #wwdnews #wwdfashion (📷: @kukukuba)
BREAKING: Jonathan Saunders is leaving @DVF. The designer has resigned from his position as chief creative officer of Diane von Furstenberg, the company said in a statement on Friday. At the time of his hire, von Furstenberg said Saunders’ arrival symbolized and facilitated her stepping back from the day-to-day duties that occupy the work of a full-time creative director. The British designer joined DVF in May 2016 and was in charge of all product categories. #wwdnews
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The crisp white button down: a staple that can be dressed up or down and accessorized throughout the decades. Here, on a Art Basel-goer in 2017 on the left and on the iconic Audrey Hepburn in “Roman Holiday” in 1953 on the right. #tbt #wwdfashion (📷: Andrew Morales)
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EXCLUSIVE: Huda Kattan just became the first beauty influencer to land a major beauty deal. Kattan's business, @hudabeauty, has received a minority investment from private equity firm TSG Consumer Partners. The brand, which industry sources say is on track to do $200 million in retail sales for 2017, will receive support on product, retail and geographic expansion through the deal. Get all the details on the deal and read @_a_collins' interview with Kattan on WWD.com. Link in bio. (📷: @jgreenery) #wwdbeauty #wwdnews
Peruvian model @juanaburga_official – who is known for walking the runways of @rodarte, @viviennewestwood and @torybuch – is making the move to the big screen with drama “Los Últimos.” The film premiered in Argentina in November and arrives in the U.S. and Europe in 2018. On making the switch from modeling to acting, Burga told WWD: “It’s a completely different thing – a lot of people think it’s similar or try to connect things, especially like getting used to the camera or being looked at all the time or playing these different characrers, but film is a completely different story.” #wwdeye (📷: @jgreenery)
London’s newly opened @designmuseum will look back on the life and work of Azzedine Alaïa in a show that the designer helped to curate before he died of heart failure last month. The retrospective, which Alaïa had worked on with Mark Wilson, chief curator of the @groningermuseum, will look at the impact of his work worldwide. The show, “Azzedine Alaïa: The Couturier,” will run from May 10 to October 7. Read more about the exhibit on WWD.com #wwdnews #wwdfashion (📷: @zefashioninsider)