TJX - The TJX Companies Inc. (TJX) Q1 2025 Earnings Call Transcript
2024-05-22 14:45:05 ET
The TJX Companies, Inc. (TJX)
Q1 2025 Results Conference Call
May 22, 2024 11:00 AM ET
Company Participants
Ernie Herrman - Chief Executive Officer and President
Deb McConnell - SVP, Global Communications
John Klinger - EVP & CFO
Conference Call Participants
Matthew Boss - JPMorgan
Lorraine Hutchinson - Bank of America
Brooke Roach - Goldman Sachs
Ike Boruchow - Wells Fargo
Paul Lejuez - Citigroup
Michael Binetti - Evercore
Adrienne Yih - Barclays
Jay Sole - UBS
Aneesha Sherman - Bernstein
Laura Champine - Loop Capital
Dana Telsey - Telsey Group
Marni Shapiro - Retail Tracker
Presentation
Operator
Ladies and gentlemen, thank you for standing by. Welcome to the TJX Companies First Quarter Fiscal 2025 Financial Results Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. [Operator Instructions] As a reminder, this conference call is being recorded, May 22, 2024.
I would like to turn the conference call over to Mr. Ernie Herrman, Chief Executive Officer and President of TJX Companies, Inc. Please go ahead, sir.
Ernie Herrman
Thanks, Cordi. Before we begin, Deb has some opening comments.
Deb McConnell
Thank you, Ernie, and good morning. Today's call is being recorded and includes forward-looking statements about our results and plans. These statements are subject to risks and uncertainties that could cause the actual results to vary materially from these statements, including, among others, the factors identified in our filings with the SEC.
Please review our press release for a cautionary statement regarding forward-looking statements as well as the full safe harbor statements included in the Investors section of our website, tjx.com. We have also detailed the impact of foreign exchange on our consolidated results and our international divisions in today's press release and in the Investors section of tjx.com along with reconciliations to non-GAAP measures we discuss.
Thank you. And now, I'll turn it back over to Ernie.
Ernie Herrman
Good morning. Joining me and Deb on the call is John. I want to start by thanking all of our global associates for their ongoing commitment to TJX and for delivering great value to our customers. I especially want to recognize the hard work of our store distribution and fulfillment center associates across the Company. Now to our business update and first quarter results.
I am very pleased with our first quarter performance. Overall, comp store sales were up 3%, which was at the high end of our plan. Again, this quarter, the comp increase was entirely driven by customer transactions. We see this as an excellent indicator of the strength of our business. As to first quarter profitability, both pretax profit margin and earnings per share came in well above our plans, which was terrific to see.
John will talk to the drivers of this profit outperformance in a moment. Our first quarter results are a testament to the sharp execution of our teams who focused on offering our shoppers excellent value on every item every day. Our results also highlight the benefits of our flexible business model. Throughout the quarter, we flexed our store assortments and leaned into categories that many consumers were looking for....
The TJX Companies, Inc. (TJX) Q1 2025 Earnings Call Transcript