Better sales led off-price giant The TJX Cos. Inc. to a 9.2 percent rise in third-quarter profit.
Net income increased to $406.5 million, or $1.06 a diluted share, from $372.3 million, or 92 cents, a year earlier. Earnings per share met Wall Street’s expectations.
Sales for the three months ended Oct. 29 rose 4.8 percent to $5.79 billion from $5.53 billion with a 3 percent rise in comparable-store sales.
“Although it’s still early, November is off to a strong start,” said Carol Meyrowitz, chief executive officer.
Meyrowitz said the company was bullish about the fourth quarter, in part, because “our inventory position allows us to buy into current trends and ship fresh gift assortments continuously throughout the season; we are ready with great gift initiatives [and] our marketing campaigns will be seen by more people than ever before.”
For the full year, TJX expects adjusted earnings per share of $3.93 to $3.97, narrowing the range from its previous guidance, which projected profits of $3.89 to $3.97.
“We believe the off-price business model has proved to be quite resilient and expect continued market share gains over the years,” said Randal Konik, analyst at Jefferies. “Further, TJX’s aggressive advertising strategy heading into holiday is expected to drive traffic gains and shows the company remains on the offensive.”
Luxury handbag resale company @rebagofficial is planning to sell a rare collectible for $70,000: the @hermes White Crocodile Himalayan Birkin. The exclusive Birkin sold for about $100,000 in 2008, when @davidbeckham bought one for his wife @victoriabeckham to add to her collection. Read more about the rare Birkin on WWD.com #wwdaccessories
With her costume pearl necklace and what-you-see-is-what-you-get style, Barbara Bush, who died Tuesday at age 92, was a straight-shooter from start to finish.
Born Barbara Pierce in New York City, Bush served as the 37th first lady, as well as the country’s second lady from 1981 to 1989. In addition to being part of the longest presidential marriage — 73 years — Bush also had the unlikely distinction of having one son, George W., become the 43rd president and another son, Jeb, run unsuccessfully in 2016. Having served as second lady during the Reagan administration’s two terms and lived all over the world during her own husband’s ascending political career, Barbara Bush made it clear that literacy — not fashion — was her priority. Read more from Rosemary Feitelberg’s obituary on the late First Lady in WWD.com, link in bio. #barbarabush #wwdnews
Western and ’90s trends have influenced denim for fall 2018. Think raw, dark and coated jeans mixed with bold prints and tough leather. #trendtuesdays #wwdfashion (Styled by @thealexbadia;📷: @ryanplett)
@denimdaysfestival, which initially launched in Amsterdam in 2014 and has since expanded to New York, is heading to Nashville for the very first time. The two-day festival, which will take place in November, will feature brand activations, hands-on workshops by artisans and denim mills, a vintage market, live entertainment, and local food and drinks. Get all the details on WWD.com. #wwdnews #wwdfashion
Later this month, the popular “Diana: Her Fashion Story” exhibit will be reopening. @historicroyalpalaces, the charity that manages @kensingtonroyal, has been working towards adding new, never-before-seen garments to the exhibit, including this dress created by Gianni Versace for a fund-raising dinner at the Museum of Natural History in Chicago. The exhibit will reopen on April 26 at Kensington Palace @wwdfashion
“Our family has always been engaged and interested in the world around us. [My brothers and I] were always encouraged to have our own opinion at a young age, which is not always something a child is asked — especially to have an opinion with reasoning behind it,” said @yarashahidi on becoming an activist. We caught up with the 18 year old last week, where she talked about her road to acting, how “Black-ish” led her to start conversations about identity and more. Head to WWD.com to read what she had to say #wwdeye (📷: @chelsealaurenla)