Search
 

TJX's August Sales Up, BJ's Down

FRAMINGHAM, MA-The discount retailer is showing a 6% rise in sales for August, while the wholesaler club store is showing a 1.9% decrease.

By Ryan Clark | Updated on September 04, 2009

FRAMINGHAM, MA-The TJX Companies, Inc. is continuing its trend of solid sales numbers during the recession logging a 6% rise year-over-year for the month of August. The discount retailer produced $1.6 billion in sales for the four-week period ending August 29, 2009. Meanwhile, fellow Bay State company, BJ’s Wholesale Club was tagged for a 1.9% decline YOY for the same four-week period. The Natick, MA-based wholesale club store’s August sales came in at $757.6 million, down from August ’08′s $772.6 million figure.

“Our strong sales momentum continued in August with consolidated comparable store sales up 5% for the month, which was better than we had planned,” says Carold Myrowitz, president and CEO of TJX, in a statement. She notes high customer traffic counts and paints a positive outlook for the coming school season, as well as the later half of the year, with September off to a solid start.

BJ’s losses stem generally from a negative impatct of lower gasoline prices and volumes versus last year. According to a release, the “gasoline and merchandise comparable club sales increased in weeks one, two and three, and descreased in week four.” BJ’s points to the week four decrease as a result of the pre-Labor day purchases moving from end of August to early September, with Labor Day coming on September 7, this year. Also, on a positive note, the traffic increased 4% YOY, unfortunately the average transaction amount fell 2%.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.