Archive for the 'TJX Cos.' Category

TJX Launching New Chain, Expands Stores

TJX Cos.’s management is launching a new chain in the spring next year that management says has the capability of hitting 100 stores. It’s not putting a name out there yet, though, and won’t reveal the concept.

Meanwhile, the operator of Marshalls, T.J. Maxx and other chains plans to nearly double its overall store count from just above 2,700 units to 4,200 locations. This year, 130 new stores are planned.
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Department-Store Closures on the Horizon

Department store sales are improving and many of the big chains are doing a good job controlling inventories after a dismal start to the recession. But for this to continue, they’re probably going to start closing some doors, according to one analyst.

“We’ll see more stores close than open in 2010,” says Walter Stackow, who follows retail for Manning & Napier, in a Reuters interview.
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Filene’s Bankruptcy Finally Over

So Filene’s Basement is going to survive. The discount chain emerged from Chapter 11 bankrpuptcy, and it’s 23 stores are now owned by Syms Corp. and Vornado Realty Trust.

Both firms will operate Filene’s under its iconic name. But its flagship location in Boston’s Downtown Crossing is still in limbo.
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A Good Black Friday? Ask Abercrombie

November’s same-store sales were released yesterday, and retailer’s results were far from overwhelming. The International Council of Shopping Centers says sales overall were actually down 0.8% year over year for the month.

Dow Jones has a pretty comprehensive list of individual retailer performance, and there are a lot of duds. Saks plunged 26.1%. Abercrombie & Fitch fell 17%. Children’s Place dropped 13%.
Continue reading ‘A Good Black Friday? Ask Abercrombie’

Are Holiday Sales Really Looking Up?

Most industry watchers out there predict that this year’s holiday season won’t be as gloomy as last year’s. A recent Bloomberg article puts sales growth at 1.5% during the period.

Part of the good news is that TJX Cos. raised its sales expectations for the fourth quarter. But since TJX is one of the rare over performers in the recession, is that really anything to be surprised about?
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Does Filene’s Have a Future?

In this economy, we find it strange that some discounter retailers can do so well, while others suffer.

Take the 100-year-old Filene’s Basement, for example, which filed for Chapter 11 bankruptcy protection yesterday. That discount clothing seller wasn’t able to hang on, yet much larger competitors like TJX Cos. and Ross Stores have done well in this environment.
Continue reading ‘Does Filene’s Have a Future?’

This Holiday’s All About Sales

People might shop this holiday season after all – if retailers keep slashing their prices. This BusinessWeek article says that Old Navy has pairs of gloves for $1, and even Saks has slashed prices on some items by almost half.

Says retail analyst Jennifer Black: “”I have never seen any environment like this. The fight is on … They are all scared.”
Continue reading ‘This Holiday’s All About Sales’

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September 2021

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