Financials

Earnings Roundup: TJ Maxx, JC Penney Come Out on Top

FinancialsFeb 29, 2016

Earnings Roundup: TJ Maxx, JC Penney Come Out on Top

These two retailers reported some of the strongest year-end sales in retail, while competitors Macy’s and Kohl’s struggled.

2016_JC-Penney-store.jpg
The J.C. Penney store in Brooklyn, N.Y. The retailer recorded one of the strongest performances in retail last year, with fourth quarter comps up 4 percent.

New York--The TJX Companies Inc. and J.C. Penney reported some of the strongest fourth quarter and year-end sales results in 2015, a year in which many big retailers struggled.

The TJX Companies’ Marmaxx U.S. division (comprising T.J. Maxx and Marshalls) recorded a 6 percent increase in same-store sales in the fourth quarter, while total sales were up 8 percent.  For the year, comps rose 4 percent and total sales were up 7 percent.

An increase in customer traffic helped to boost sales, with President and CEO Ernie Herrman, who took the reins from Carol Meyrowitz this year, noting that comps “significantly exceeded expectations.”

Meanwhile, J.C. Penney Co. Inc. continues to make a comeback. The Plano, Texas-based retailer saw fourth quarter comps increase 4 percent while total sales rose 3

percent. For the full year, same-store sales were up 5 percent and total sales climbed 3 percent.

Competing department store and off-price chains didn’t fare so well.

Macy’s continues to struggle, posting declines in same-store and total sales for the fourth quarter and full year. The retailer’s fourth quarter comps were down 4 percent year-over-year while total sales slid 5 percent.

For 2015, comps were down 3 percent while total sales decreased 4 percent.

Kohl’s also saw its same-store and total sales slip in the fourth quarter and for 2015 as a whole, with Chairman, President and CEO Kevin Mansell noting that the retailer’s fourth quarter comps were below expectations.

In 2016, Kohl’s is opening seven stores that are smaller than its traditional locations and two more Off-Aisle pilot stores, both in Wisconsin. Off-Aisle is an outlet store stocked with merchandise that was returned to other Kohl’s stores.

The retailer also is opening 12 outlet stores for sportswear brand Fila and will close a total of 18 underperforming stores, with specific locations expected to be announced by the end of March.

Among higher-end department stores, both Saks Fifth Avenue, which is owned by Canadian retail company Hudson’s Bay, and Nordstrom saw their off-price divisions outperform their full-line stores in both the fourth quarter and full year.

Saks Fifth Avenue’s same-store sales slipped 1 percent in the fourth quarter and full year while Saks Off 5th stores recorded comp increases of 2 percent and 6 percent for the fourth quarter and full year, respectively.

Nordstrom’s fourth quarter same-store sales were up 1 percent while total sales in the period rose 5 percent. For the full year, comps increased 3 percent and total sales climbed 8 percent.

In both periods, however, Nordstrom Rack outperformed the retailer’s full-line stores.
Michelle Graffis the editor-in-chief at National Jeweler, directing the publication’s coverage both online and in print.

The Latest

Vikki Tobak
EditorsMay 07, 2024
Q&A: Author Vikki Tobak on the ‘Ice-Cold’ Exhibition

Tobak, author of “Ice Cold: A Hip-Hop Jewelry History,” shares how the exhibition came to be, and the pieces people may be surprised to see.

Cynthia Erivo, Zendaya, Lewis Hamilton at the Met Gala
EditorsMay 07, 2024
10 On-Theme Looks from the 2024 Met Gala

Stars adorned themselves in emeralds, platinum, and myriad bird motifs, writes Associate Editor Natalie Francisco.

Rendering of M.S. Rau pop-up shop in Aspen, Colorado
IndependentsMay 07, 2024
112-Year-Old New Orleans Business Popping Up in Aspen

M.S. Rau is set to open a seasonal gallery in the high-end resort town early next month.

Header image w logo.jpg
Brought to you by
From Registration to Return: 10 Tips to Protect You Before, During and After a Tradeshow

Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.

Vhernier Calla necklace rose gold and ebony
MajorsMay 07, 2024
Richemont Acquires Italian Jeweler Vhernier

The branded jewelry market is thriving, said Richemont Chairman Johann Rupert.

Weekly QuizMay 02, 2024
This Week’s Quiz
Test your jewelry news knowledge by answering these seven questions.
Take the Quiz
The six Couture Luminaries designers 2024
CollectionsMay 07, 2024
These ‘Luminaries’ Are Set to Light Up Couture

The six designers, all participants in the show’s Diversity Action Council mentorship program, will exhibit in Salon 634.

Sylvester Stallone watch auction
AuctionsMay 07, 2024
Sotheby’s to Auction Sylvester Stallone’s Watches

The highlight of his collection is the coveted Patek Philippe Grandmaster Chime, which could sell for up to $5 million.

national-jeweler-top-image-v1.jpg
Brought to you by
Rio’s Reimagined Podcast: For the Love of Jewelers

Meet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.

Models Wearing Venetian Link Bracelets and Necklaces
CollectionsMay 07, 2024
Phillip Gavriel Pays Tribute to Venice With New Collection

The “Venetian Link” series modernizes the classic Veneziana box chain in its bracelets and necklaces.

Jewelers of America logo
Events & AwardsMay 07, 2024
JA Now Accepting Applications for New Bench Jeweler Scholarship

The Seymour & Evelyn Holtzman Bench Scholarship will provide tuition assistance to two low-income students.

Rolex and Hallmark logos
Policies & IssuesMay 06, 2024
Rolex Files Objection to Hallmark’s New Trademark Application

The Swiss watchmaker said the company’s plans to use a new version of the Hallmark crown on jewelry would confuse consumers.

Anglo American executive Benny Oeyen
EditorsMay 06, 2024
Q&A: 8 Questions With Anglo American’s Benny Oeyen

The executive talked about the importance of self-purchasers and how fuel cell electric vehicles are going to fuel demand for platinum.

Opening of Malabar Gold & Diamonds store in Naperville Illinois
MajorsMay 06, 2024
Malabar Gold & Diamonds Opens 4th U.S. Showroom

The Indian jeweler’s new store in Naperville, Illinois marks its 350th location, part of its ongoing global expansion plans.

Ben Bridge Jeweler Logo
Events & AwardsMay 06, 2024
Ben Bridge Jeweler Accepting Applications for Lonia Tate Scholarship

It will award a graduating high school student with about $10,000 toward a GIA diploma and an internship with the Seattle-based jeweler.

Mug shots of murder suspects Michael McCormack and Charles Robinson Shay
CrimeMay 03, 2024
Second Suspect Arrested in Murder of Colorado Jeweler

Wheat Ridge, Colorado police took a 50-year-old man into custody Wednesday following a two-month search.

Five Platinum Pieces
CollectionsMay 03, 2024
A Sneak Peek Into PGI’s Couture Platinum Spotlight Program

PGI partnered with four new and seven returning designers for its annual platinum capsule collection.

Kristie Nicolosi
MajorsMay 03, 2024
Kristie Nicolosi Joins WJA Board Again

Nicolosi, president and CEO of The Kingswood Company, previously sat on WJA’s board from 2011 to 2018.

Karina Brez Bit of LUV Bracelet
CollectionsMay 03, 2024
Piece of the Week: A “Bit of LUV” for the Derby

Karina Brez’s race-ready piece is a sophisticated nod to the horse-rider relationship.

Stock image of handcuffs and gavel
CrimeMay 02, 2024
4 Indicted in Burglary Ring Targeting Indian, South Asian Families

The men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.

Horizon Campaign Collage
CollectionsMay 02, 2024
Foundrae Launches ‘Horizon’ Collection

“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.

Glenn Lewis
IndependentsMay 02, 2024
Oklahoma Jeweler Glenn Lewis Dies at 68

The co-founder of Lewis Jewelers was also the longtime mayor of the city of Moore.

The back of the Baume & Mercier watch Elvis gave to Dodie Marshall
AuctionsMay 02, 2024
Vintage Baume & Mercier With Ties to Elvis Sells for $7K

Elvis Presley gifted this circa 1967 gold and diamond watch to Dodie Marshall, his co-star in “Easy Come, Easy Go.”

Harwell Godfrey
IndependentsMay 01, 2024
Harwell Godfrey Opens First Store

It is located in Marin County, California.

Woman holding a dress
SurveysMay 01, 2024
Consumer Confidence Falls in April

Concerns about rising prices, politics, and global conflicts continue to dampen consumer outlook.

Syna emerald earrings
TrendsMay 01, 2024
Amanda’s Style File: All Eyes on Emeralds

May’s birthstone is beloved for its rich green hue and its versatility.

Jacqui Larsson Looking at a Diamond
SourcingMay 01, 2024
Opsydia Names New Sales and Marketing Director

Jacqui Larsson joins Opsydia with nearly two decades of experience in the industry.

Stock image crime handcuffs
CrimeMay 01, 2024
Grand Jury to Hear Case Against Jeweler Charged in Fatal Shove Following IJO Show

Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy