TJX hitting holiday hard
By Staff -- Home Textiles Today, 11/15/2005 12:33:00 PM
FRAMINGHAM, Mass. -- TJX Companies Inc. is ramping up its holiday budget to roll out a “hard-hitting” marketing campaign that centers on specific products and key price points, the company said during its third quarter earnings call today.
Carol Meyrowitz, president, said TJX is “spending a little bit more -- not a lot -- on our marketing, and I think it is a lot harder hitting for Thanksgiving through the holiday season. You’ll see very specific categories and price points that are going to come out. And we have really spectacular product. I won’t be too specific, but it will focus on luxury items and great brands.”
She added that holiday will bring some “great new (product) mixes” in December, across the board in every division.
The company reported a 15 percent drop in third quarter net income, to $171 million. Net sales rose 6 percent, to $4 billion. Comps were flat.
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