Shoppers Are Spending Big at T.J. Maxx, HomeGoods as Target Sales Slide
August 17, 2023
TJX Cos., the parent company of T.J. Maxx, Marshalls, and HomeGoods, reported a 7.7% year-over-year increase in sales and a 23% rise in profits for the fiscal second quarter. The company benefited from strong customer traffic and the availability of premium merchandise obtained from higher-end retailers looking to reduce their bloated inventories. In contrast, Target reported a pullback in spending on discretionary items like clothing and home decor, and it lowered its full-year forecast due to consumer pressures from high inflation in food, beverages, and household essentials.
Recent News
NHTSA Investigates Tesla Autopilot Again After Recent Software Update
Tesla Autopilot is once again the subject of an NHTSA investigation.
Home Depot Holds Halfway to Halloween Sale: Skelly’s Back
It’s halfway to spooky season, and Home Depot is celebrating.
Kaiser Discloses Health Insurance Data Breach
Health insurance company Kaiser is notifying millions of its current and former members about a data breach. The breach occurred when Kaiser shared patients’ information with third-party advertisers like Google, Microsoft, and X (formerly Twitter).
Satirical Site The Onion Acquired by Global Tetrahedron
The satirical news website, The Onion, has been sold by G/O Media to a group of digital media veterans.