TJX HOMEGOODS BUSINESS SWINGS INTO THE BLACK IN SECOND QUARTER.(Brief article)
HFN: The Weekly Newspaper for the Home Furnishing Network, August, 2006 by Rudnick, Michael; Weber, Nathan
Byline: Nathan Weber, with contributions by Michael Rudnick
FRAMINGHAM, Mass.-TJX Corp.'s HomeGoods business reversed a loss, helping to boost the retailer's overall bottom line by nearly one quarter.
HomeGoods swung into the black for the second quarter with a $4.2 million profit, compared with a $4.7 million net loss in the year-ago period. The division had a little more than 16 percent sales increase to roughly $301 million for the quarter ended July 29, compared with about $259 million for the same period last year.
TJX's home sales were led by hard home, which had a 7 percent same-store sales increase for the quarter, said Ben Cammarata, chairman and acting chief executive officer, during the company's earnings call. He said that the...
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