TJX Cos Inc reported a 6 percent rise in quarterly comparable-store sales on Tuesday, as big discounts attracted more younger shoppers and generated the off-price retailer’s 16th consecutive quarter of traffic growth.
While China has raised import duties on several categories of U.S. goods, it lowered tariffs on apparel, cosmetics, household goods and jewelry, which could see these industries thrive, according to Cowen and Company.
Though the escalating tensions between the United States and several of its trading partners could hurt companies across a broad range of sectors, several industries are poised to withstand them or even thrive.
Gap’s dependence on its low-end Old Navy line lessened in the holiday quarter as the apparel retailer managed to better its sales of other brands, helping the company’s same-store sales blow past Wall Street estimates.
Off-price apparel retailer TJX Cos Inc on Wednesday beat analysts’ estimates for holiday-quarter same-store sales as discounts drew more shoppers to its Marmaxx and TJX Canada stores, sending its shares to a record high.
TJX Cos Inc posted its worst quarterly same-store sales performance since 2009, as its fashion apparel failed to click with customers and fewer people bought winter clothes in an unusually hot fall season.