Financials

Chains see small increases in Q3 comps

FinancialsMar 22, 2016

Chains see small increases in Q3 comps

Walmart and Target both reported a 2 percent rise while T.J. Maxx’s parent company saw same-store gain of 3 percent, with the chains attributing marked traffic growth and positive customer experiences for the performances.

New York--Comp sales were up for Target Corp., Walmart Stores Inc. and TJX Companies Inc., albeit by small amounts, in the third quarter.

Traffic growth and positive customer experience helped to stimulate sales for the companies in the three-month periods ended Oct. 31.


Target Corp. was among the major chain stores that reported modest gains in the third quarter.Highlights from the third quarter results recently reported by the three chains are below.

Target Corp.
Third quarter comps grew 2 percent for Target in the three-month period ended Oct. 31, driven by traffic growth and online sales, which increased by 20 percent.

Same-store sales in signature categories--style, baby, kids and wellness--grew more than three times faster than the company average, leading the company’s sales growth.

The third quarter also marked Target’s fourth consecutive quarter of traffic growth, which the company said was “encouraging, especially in the face of stiffer prior-year comparisons.”

Overall sales in the quarter were up 2 percent, increasing from $17.25 billion in the year-earlier period to $17.61 billion, reflecting both a rise in comp sales as well as sales from new stores.

The Minneapolis-based company operates 1,805 stores, up just slightly from the 1,801 it had as of Nov. 1, 2014.

Walmart Stores Inc.
Same-store sales at Walmart were up for the fifth consecutive quarter, increasing nearly 2 percent in the most recent three-month period as customer experience scores continued to strengthen, Walmart said.

Operating income in the U.S. was down 9 percent to $4.5 billion, while net sales grew 4 percent to $72.7 billion.

At Sam’s Club, comps excluding fuel rose less than 1 percent, and net sales without fuel were up 2 percent to $14.1 billion. Operating income (excluding fuel) increased 4 percent during the quarter.

Total revenue for the company was $117.4 billion, or $122.4 billion on a constant currency basis.

Operating income for the overall Walmart Stores, Inc. was down 9 percent. The company noted that although positive comps show the business is taking the right steps to win with customers, it is “positioning for sustainable growth through investments in people and technology to deliver a seamless shopping experience at scale.”

TJX Companies Inc.
U.S. same-store sales rose 3 percent year-over-year in the third quarter ended Oct. 31 for T.J. Maxx and Marshalls stores, parent company TJX Companies Inc. reported.

U.S. net sales for the two chain stores were up

5 percent during the period, from $4.67 billion to $4.92 billion.

Globally, overall comps increased 5 percent while net sales also rose 5 percent to $7.75 billion. Net income for the company was down 1 percent, from $594.9 million in the year-earlier period to $587.3 million.

“We are delighted that strong customer traffic drove our entire consolidated comp and was the primary driver of our comp increases at every division,” said TJX chairman and CEO Carol Meyrowitz. “Our excellent traffic gains and strong performance across our apparel, accessories and home categories demonstrate that our brands globally are offering the right values and merchandise mix.”

During the third quarter, TJX increased its store locations in the U.S. to 2,679--1,149 T.J. Maxx locations, 1,001 Marshalls stores, 522 HomeGoods stores and seven of its Sierra Trading Post locations.

Th company also acquired Trade Secret, an Australian off-price retailer with 35 stores on the continent, in October.

Michelle Graffis the editor-in-chief at National Jeweler, directing the publication’s coverage both online and in print.

The Latest

GradingApr 19, 2021
Here’s What SSEF Found When It Studied High-Quality Afghan Emeralds

The Swiss lab reveals how stones from the Panjshir Valley are both different from and similar to emeralds from other places.

CrimeApr 19, 2021
JSA Issues Refresher on What To Do During a Robbery

The reminder follows a frightening incident at a store in California.

SurveysApr 19, 2021
New Nielsen Study Shows Consumer Optimism Toward Jewelry

The survey showed Americans are becoming more optimistic about their financial futures and view precious jewelry as an important category.

Brought to you by
A New Golden Age

Gold has had its share of ups and downs over the last 5 decades. Here’s why the metal is having another big comeback.

Lab-GrownApr 19, 2021
Lab-Grown Diamond Co. Green Rocks Hires Brand Manager

Ahna Shmuel returns to the company to head brand management as well as oversee the jewelry division.

Weekly QuizApr 16, 2021
This Week's Quiz
Test your knowledge of jewelry news from the week of April 12-16, 2021.
Take the Quiz
WatchesApr 19, 2021
Watchfinder & Co. Names New CEO

Former Rakuten executive Arjen van de Vall will take the reins at the pre-owned watch retailer.

AuctionsApr 16, 2021
Try On This Diamond and Pearl Tiara Before It Heads to Auction

Sotheby’s created an Instagram filter for the crown, estimated to sell for up to $1.5 million.

Brought to you by
4 Reasons You Need This Program for Mother’s Day

Learn how to increase customer loyalty and revenue by making JM™ Care Plan a cornerstone of your business plan.

SurveysApr 16, 2021
March Retail Sales Surge

Another round of stimulus checks helped to bolster last month’s retail sales.

×