TJX - TJX reports a strong Q4: here's what its CEO said today

2024-02-28 07:36:44 ET

TJX Companies Inc (NYSE: TJX) is trading up in premarket on Wednesday after reporting strong financial results for its fourth quarter.

This is a developing story. Figures missing below will be updated as received!

Investors are content also because the off-price retailer issued upbeat guidance for the future. TJX now expects up to 3.0% annualised growth in comparable sales in Q1.

Analysts, in comparison, were at %. Ernie Herrman – the chief executive of TJX Companies said in a press release today:

We had a very strong finish to 2023 and start the new year in a position of strength with the first quarter off to a good start.

The department store chain forecasts 84 cents to 85 cents of per-share earnings in the first quarter. is now up close to 40% versus its 52-week low.

Earned $1.40 billion versus the year-ago $1.03 billion

Per-share earnings also climbed from 89 cents to $1.22

Adjusted EPS printed at $1.12 as per the earnings report

Revenue jumped 13% year-over-year to $16.4 billion

Consensus was a share on billion in revenue

TJX Companies improved its pre-tax profit margin by 200 basis points to 11.2% in Q4. CEO Herrman also said on Wednesday:

Longer term, we are excited about the potential we see to strategically grow our business, capture additional market share, and increase the profitability of our Company.

This is a developing story. Check back in a few minutes for more updates!

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