TJX - TJX And Ross Stores Prove Off-Price Retailers' Ability To Profit Even During Challenging Economic Times | Benzinga
On Wednesday, The TJX Companies, Inc. (NYSE: TJX) reported its first quarter results, proving its resilience amid a challenging macroeconomic climate, unlike Target Corporation (NYSE: TGT). Although same-store sales growth and second quarter guidance was disappointing, the off-price retailer topped earnings estimates and raised its full year guidance, like its peer Like Ross Stores Inc (NASDAQ: ROST) that reported its quarterly results on Thursday.
TJX’s First Quarter Highlights
For the quarter ended on May 4th, TJX Companies reported net sales grew 6% to $12.48 billion while comparable store sales rose 3% due to an increase in customer transactions. TJX reported net income rose as much as 20% to $1.07 billion, with gross profit margin improving to 30.0% during the first quarter of fiscal 2025. Diluted earnings per share rose 22% YoY to $0.93. Pretax margin rose from last year’s comparable quarter (10.3%) to 11.1%. During the quarter, TJX added 18 stores, bringing its total to 4,972 stores.
TJX’s Guidance
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