Several major US retailers beat earnings expectations in Wednesday’s reports, despite pressure from tariffs. T.J. Maxx and Lowe’s saw significant increases in sales and net earnings, while Target reported a decline in sales.
T.J. X, the parent company of T.J. Maxx, Marshall’s, and HomeGoods, reported net sales of $14.4 billion, up 7% from last year. CEO Ernie Herman attributed the success to the company’s buyers finding “the best values” and diversifying their sourcing.
Lowe’s reported net earnings of $2.4 billion and sales of $24 billion, an increase from $23.6 billion in the same period last year. The retailer also announced a deal to acquire Foundation Building Materials.
Target CEO Brian Cornell stepped down after leading the company for 11 years, while reporting a 0.9% decline in net sales. Despite this, Target expressed optimism about its ability to mitigate the impact of tariffs and maintain its guidance.
The retailers’ results come ahead of increased tariff rates on imported goods, which could impact prices. Home Depot imports less than half of its inventory from outside the US, with executive vice president Billy Bastek stating that some merchandise may leave shelves due to increasing tariffs.
Several major retailers are set to report earnings this week, providing insight into how businesses are dealing with higher tariff rates.
Source: https://www.forbes.com/sites/zacharyfolk/2025/08/20/retail-earnings-tracker-target-sales-fall-again-as-it-warns-of-tariff-uncertainty-lowes-beats-expectations