Thursday, 24th February 2005 (4651 views)

US retailer The TJX Companies has reported strong sales in its fiscal year results, with net sales boosted by sales in jewellery at TJ Maxx stores.

Net sales for 2004 reached $14.9 billion, an increase of 12 per cent and store sales rose by five per cent for the year.

In addition, retail sales reached $10.5 billion in 2004, with store space and new store numbers both increasing.

Edmond English, president and CEO at The TJX Companies, commented, "Marmaxx's results were driven by strength in women's sportswear, and the successful expansion of jewellery and accessories at TJ Maxx."

The company plans a number of new stores during 2005 and is following other retailers such as Costco in making profits from the sale of jewellery.

 

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