The TJX Companies

TJX

US8725401090

Discount Stores

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108.5 ^USD	+0.22%		+0.99%	+15.66%

06-16	Wall St Week Ahead-Retail stocks search for direction as rates stay high	RE
06-14	Wall St Week Ahead-Retail stocks search for direction as rates stay high	RE

The TJX Companies Reports Q1 FY25 Results; Comp Store Sales Growth of 3% at High-End of Plan

May 24, 2024 at 11:33 am

The TJX Companies, Inc. Reports Q1 FY25 Results; Comp Store Sales Growth of 3% at High-End of Plan.

Highlights:

* Q1 consolidated comparable store sales increased 3%, at the high-end of the Company's plan, and were entirely driven by an increase in customer transactions

* Q1 pretax profit margin of 11.1%, up 0.8 percentage points versus last year and well above the Company's plan

* Q1 diluted earnings per share of $.93, up 22% versus last year and well above the Company's plan

* Returned $886 million to shareholders in Q1 through share repurchases and dividends

* Increases outlook for FY25 pretax profit margin and earnings per share

FRAMINGHAM, Mass- The TJX Companies, Inc. (NYSE: TJX), the leading off-price apparel and home fashions retailer in the U.S. and worldwide, today announced sales and operating results for the first quarter ended May 4, 2024. Net sales for the first quarter of Fiscal 2025 were $12.5 billion, an increase of 6% versus the first quarter of Fiscal 2024. Consolidated comparable store sales increased 3%. Net income for the first quarter of Fiscal 2025 was $1.1 billion and diluted earnings per share were $.93, up 22% versus $.76 in the first quarter of Fiscal 2024.

CEO and President Comments

Ernie Herrman, Chief Executive Officer and President of The TJX Companies, Inc., stated, 'I am very pleased with our first quarter performance. Overall comp store sales increased 3%, at the high-end of our plan, and both profitability and earnings per share were well above our expectations. Our teams across the Company executed on our initiatives and were laser-focused on delivering consumers exciting values on great brands and fashions and a treasure-hunt shopping experience, every day. We saw comp sales growth at every division entirely driven by customer transactions, which underscores the strength of our value proposition. This also gives us confidence in our ability to gain market share across all of our geographies. The second quarter is off to a good start and we see numerous opportunities for our business for the balance of the year that we plan to pursue. Longer term, we are excited about the potential we see to drive customer transactions and sales, capture additional market share, and increase the profitability of TJX.'

Comparable Store Sales by Division

The Company's comparable store sales by division for the first quarter of Fiscal 2025 and Fiscal 2024 were as follows:

See full release at: https://investor.tjx.com/news-releases/news-release-details/tjx-companies-inc-reports-q1-fy25-results-comp-store-sales

Debra McConnell

Global Communications

(508) 390-2323

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Company Profile

The TJX Companies, Inc. is No. 1 in America of discount retail distribution of clothing and household items. Net sales break down by family of products as follows: - apparel and accessories (46%); - home goods (39%): home furnishings, lamps, rugs decorative accessories, etc.; - jewelery and accessories (15%). At 30/01/2021, the group had a network of 4,572 stores located in the United States (3,305, of which 1,271 T.J. Maxx, 1,131 Marshalls, 821 HomeGoods, 48 Sierra and 34 Homesense), Canada (525, of which 280 Winners, 143 HomeSense and 102 Marshalls), Europe and Australia (742, of which 602 T.K. Maxx, 78 HomeSense and 62 Trade Secret). Net sales are distributed geographically as follows: the United States (79.2%), Europe and Australia (12%) and Canada (8.8%).

Sector

Discount Stores

Calendar

2024-08-14 - Détachement de

Related indices

S&P 500

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