“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.
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For men’s fall 2018, @giuseppezanotti drew on elements from streetwear, sport, biker, combat and rock ‘n’ roll. Pictured here are a pair of shoes from the collection, featuring zippers, rhinestones, and silver hardware. Head to WWD.com to see a roundup of the accessories from Milan’s men’s fall 2018 shows. #wwdfashion (📷: Andrea Delb)
To celebrate the 25th anniversary of @ralphlauren’s snowboarding collection, the brand is mining its archives. The iconic brand is reintroducing vintage styles and dropping new designs for a color capsule that will be available in Ralph Lauren stores and @openingceremony on January 25. The capsule will consist of 10 pieces, including the Snow Beach Pullover, pictured here, which is a collector’s item that rapper Raekwon wore in Wu-Tang Clan’s “Can It Be All So Simple” video. #wwdfashion (📷: Tom Gould)
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Only three months after her stellar debut catwalk season, @kaiagerber has inked her first big design collaboration –– with @karllagerfeld. The collection blends Lagerfeld’s Parisian chic aesthetic and the model’s signature West Coast casual style via RTW, accessories, footwear and more. The #KarlLagerfeldxKaia collection will launch in September with a series of events. Get all the details on WWD.com. #wwdnews #wwdfashion
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews