The TJX Companies, Inc. reported that its Bobs Stores division posted a 10% comparable store sales gain for the fiscal second quarter ended July 28 on top of a 6% increase in the second quarter last year. Total sales increased 10.7% to $71.3 million from $64.3 million in the year-ago period. The division narrowed its operating loss for the quarter, posting a loss of $3.5 million, compared to an operating loss of $4.0 million in second quarter last year.
TJX added a new ad agency for Bobs and boosted the chains ad spend in the period to drive traffic.
When responding to an analysts question about a go/no go decision on Bobs Stores, Carol Meyrowitz, president and CEO of The TJX Companies, said that they expected to have a better feeling about the business by the end of the year. “I think if we have a strong back half, that's going to tell us a lot,” she said during the companys quarterly conference call.