Fashion
US’ TJX sees strong sales in Q2; upwardly revises FY26 forecast
The pretax profit margin in Q2 improved to 11.4 per cent, 0.5 percentage points (pp) higher than last year and 0.9 pp above plan, and gross margin rose to 30.7 per cent from 30.4 per cent, driven by favourable hedges, while selling, general and administrative (SG&A) expenses decreased to 19.5 per cent of sales from 19.8 per cent due to efficiencies. This was primarily driven by operational efficiencies as well as a benefit from the timing of certain expenses, The TJX Companies said in a press release.
The TJX Companies has posted strong Q2 FY26 results with net sales up 7 per cent to $14.4 billion, comparable sales rising 4 per cent, and EPS climbing 15 per cent to $1.1.
Net income reached $1.2 billion, and margins improved on efficiencies.
H1 sales grew 6 per cent to $27.5 billion.
TJX raised its FY26 EPS outlook to $4.52–$4.57 and remains confident despite tariff pressures.
Division-wise, Marmaxx (US) grew net sales 5 per cent to $8.8 billion on a 3 per cent comparable sales rise, while HomeGoods (US) gained 9 per cent to $2.3 billion on a 5 per cent increase. TJX Canada posted 11 per cent growth to $1.4 billion with 9 per cent comparable sales, and TJX International rose 13 per cent to $1.9 billion, up 7 per cent on a constant currency basis.
“I am extremely pleased with our second quarter performance. Sales, pretax profit margin, and earnings per share were all above our plan. As we have seen through so many different retail and economic environments, consumers were drawn to our excellent values and brands. Customer transactions were up at every division as we saw strong demand at each of our US and international businesses,” said Ernie Herrman, chief executive officer and president of The TJX Companies, Inc.
TJX added 13 stores in Q2, ending with 5,134 locations and 134.4 million square feet, led by expansions in TJ Maxx, HomeGoods, Sierra, Winners, and TK Maxx internationally.
For the first half of FY26, the company’s sales grew 6 per cent to $27.5 billion, with consolidated comparable sales up 4 per cent. Net income stood at $2.3 billion, and diluted EPS rose 7 per cent to $2.02. SG&A expenses of the company rose to $5.4 billion.
For full fiscal 2026, The TJX Companies expects consolidated comparable sales to rise 3 per cent. It has raised its pretax profit margin outlook to 11.4–11.5 per cent, flat to slightly below last year’s 11.5 per cent, and lifted diluted EPS guidance to $4.52–$4.57, up 6–7 per cent from $4.26. The improved EPS forecast reflects above-plan Q2 results and a smaller negative impact from foreign currency exchange rates.
For the third quarter (Q3) of FY26, TJX projects comparable sales growth of 2–3 per cent, pretax profit margin of 12–12.1 per cent versus 12.3 per cent last year, and diluted EPS of $1.17–$1.19, up 3–4 per cent from $1.14. These forecasts assume current US tariffs remain in place through FY26, with the company confident of offsetting their impact.
“With our strong second quarter profit results, we are raising our full-year guidance for both pretax profit margin and earnings per share. The third quarter is off to a strong start, and I am very confident in our position as we enter the second half of the year,” added Herrman. “Our teams are energised by the opportunities we see in the marketplace for excellent brands and fashions and our initiatives to keep attracting shoppers to our retail brands. Longer term, we are convinced that we have a long runway ahead to capture additional market share and continue our successful growth around the world.”
Fibre2Fashion News Desk (SG)
Published
January 15, 2026
Kering’s Balenciaga and resolutely independent Manolo Blahnik announced a first-time collaboration on Thursday on a trio of styles created for the Fall 2026 collection.
They said it’s “an exchange shaped by shared values and an admiration for couture tradition. The partnership reflects the House of Balenciaga’s enduring commitment to artisanal mastery, as well as creative director Pierpaolo Piccioli’s distinct approach to fashion, long inspired by the legacy of Cristóbal Balenciaga”.
It makes sense for the two labels to work together given their dual Spanish roots, as well as “the elegance of craft that unites them”.
So what does the capsule comprise? There’s a low-heeled mule and a slingback with either a 105mm or 50mm heel. With a décolleté cut, we’re told “the silhouettes reveal skin, the body, a display intrinsically linked to the primacy of the human form”.
The styles are “in and of themselves a dialogue, a duet, drawn from designs from the Manolo Blahnik archive, chosen by Piccioli, and fused together. All three are executed in silk-satin, proposed in various colours and lined in Balenciaga grey”.
Each shoe style also features crystal embroidery across a low-cut vamp, something for which Blahnik is known. The company said the embellishments “simultaneously recall archival Blahnik designs and [reference] the 1960s bijoux created by Cristóbal Balenciaga”.
Manolo Blahnik said that “Don Cristóbal Balenciaga is, to me, the ultimate designer. I have adored his work for as long as I can remember. As a Mediterranean boy myself, I have always felt a deep connection to his Spanish culture and sensibility. To be partnering with Balenciaga, and with Pierpaolo, fulfils a lifelong dream. [His] direction for Balenciaga resonates profoundly with my own ideas of how the modern woman should dress in 2026, a vision of timeless elegance rooted in craftsmanship and enduring beauty.”
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Directed by AJ Duan and photographed by Anton Gottlob in the streets of Shanghai, the hero film captures the poetry of movement in the city’s rush hour – a dance of anticipation as the four characters race towards a reunion. Amid the hum of the streets, fleeting moments of humour, warmth and surprise are revealed like hidden treasures.
Burberry marks the Year of the Horse 2026 with a capsule collection and Shanghai-set campaign starring Chen Kun, Tang Wei, Wu Lei and Zhang Jingyi.
The line reimagines the iconic Knight motif in painterly techniques, anchored in lucky red tones.
Store windows across China and Asia Pacific feature hand-painted designs created with de Gournay and artist Liao Wenjun.
The capsule collection
At the heart of the capsule collection – titled Burberry Year of the Horse Collection – is our house code, the Knight, playfully reinterpreted as a watercolour and ink sketch, brought to life through intricate techniques such as vibrant metallic embroidery, cross-stitch and appliquéd badges.
The horse is a significant motif for Burberry. The original Knight was the winning entry of a public public competition to design a logo for the house, circa 1901. Imbued with symbolism, it represents protection, innovation and Burberry’s forward-looking spirit.
The collection is grounded in red, a symbol of luck and prosperity in Chinese culture, with scarves and daywear in an exclusive new red Burberry Check.
Outerwear pieces include the Berryhill car coat and Floriston quilted jacket in iridescent nylon, while the gifting offering is expanded through soft accessories, bags and small leather goods detailed with the seasonal Knight.
Window and store display
Burberry has partnered with esteemed British hand painted wallpaper brand de Gournay on window designs throughout stores in China and Asia Pacific. The collaboration celebrates the craft and texture of Xuan paper – the traditional Chinese paper used for calligraphy and painting. Both surface and subject, the paper becomes a canvas for painterly expression and a reflection of artistry and heritage, by Chinese artist Liao Wenjun.
Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (RM)
By
Reuters
Published
January 15, 2026
India expects talks on a long-sought trade deal with the European Union to conclude this month, Trade Secretary Rajesh Agrawal said on Thursday, in what would be New Delhi’s largest agreement as it seeks new markets amid US tariff pressures.
The deal, under discussion for years, is seen as a chance for both sides to deepen economic ties and cut reliance on China and Russia. Bilateral trade between India and the EU totalled 120 billion euros ($140 billion) in 2024, making the bloc India’s biggest trading partner. Agrawal said the two sides were “very close” to finalising the pact and were exploring whether it could be wrapped up before leaders meet in New Delhi this month.
He said talks on a US trade pact were continuing and a deal would be reached when both sides were ready. Negotiations collapsed last year after a breakdown in communication between the two governments.
The president of the European Council, Antonio Costa, and European Commission president Ursula von der Leyen will visit India on January 25–27 and co-chair an India–EU summit on January 27, India’s foreign ministry said. If concluded, the deal would open India’s vast and heavily protected consumer market of more than 1.4 billion people to European goods and could reshape global trade flows as protectionism rises and a US-India pact remains stalled.
Both sides have been pushing to close a broad agreement after von der Leyen and Indian Prime Minister Narendra Modi agreed to fast-track negotiations in an effort to close a deal in 2025. Talks, relaunched in 2022, gained momentum after US President Donald Trump imposed tariff hikes on trading partners including India.
Brussels has recently signed deals with Mexico and Indonesia and stepped up talks with India, while New Delhi has reached agreements with Britain, Oman and New Zealand.
Some sensitive agricultural items have been excluded from negotiations, an Indian trade ministry official said. India will not open its agriculture or dairy sectors in any trade pact, officials have said, citing the need to protect millions of subsistence farmers.
The EU is pushing for steep tariff cuts on cars, medical devices, wine, spirits, and meat, along with stronger intellectual property rules. India is seeking duty-free access for labour-intensive goods and quicker recognition of its autos and electronics sectors.
Beyond goods, the agreement is expected to expand services trade, investment and cooperation in digital trade, intellectual property, and green technologies, as well as spur European investment in Indian manufacturing, renewable energy ,and infrastructure. Challenges remain over regulatory alignment and the protection of sensitive sectors. The EU’s carbon border levy, which requires importers to account for emissions in steel, cement and other carbon‑intensive products, has started to hit some Indian exports and is a key concern for New Delhi, exporters said.
© Thomson Reuters 2026 All rights reserved.
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