Thanks to healthy store traffic, TJX announced better than expected third quarter sales and earnings. TJX, parent company of TJ Maxx, Marshalls, Home Goods and Sierra Trading Post, said Q3 revenue rose 6.9% to $8.29 billion, from $7.75 billion in the third quarter last year; analysts expected revenue of $8.22 billion.
TJX CEO Ernie Herrman noted the company’s third quarter was an indication of “strong momentum" in customer traffic. "We have numerous initiatives underway to drive customers to our stores this holiday selling season and keep them coming back," he said in a statement. "We are on our way to becoming a $40 billion-plus company.”