- TJX press release ( NYSE: TJX ): Q4 GAAP EPS of $0.89 in-line.
- Revenue of $14.52B (+4.8% Y/Y) beats by $450M .
- Q4 FY23 U.S. comp store sales increased 4%, well above the Company’s plan and versus a 13% U.S. open-only comp store sales increase last year
- Q4 FY23 comp store sales at Marmaxx increased 7%, driven by very strong sales of apparel and accessories categories
- TJX announced today that it intends to increase the regular quarterly dividend on its common stock expected to be declared in March 2023 and payable in June 2023 to $.3325 per share
- The Company is also announcing today its plan to repurchase approximately $2.0 to $2.5 billion of TJX stock during the fiscal year ending February 3, 2024. With $1.5 billion remaining at Fiscal 2023 year end under the Company’s existing stock repurchase program, the Company’s Board of Directors approved a new stock repurchase program that authorizes the repurchase of up to an additional $2.0 billion of TJX common stock from time to time. The new authorization represents approximately 2.2% of the Company’s outstanding shares at current prices.
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First Quarter and Full Year Fiscal 2024 Outlook
For the first quarter of Fiscal 2024, the Company is planning overall comparable store sales to be up 2% to 3%.
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For the first quarter of Fiscal 2024, the Company expects pretax profit margin to be in the range of 9.2% to 9.5% and diluted earnings per share to be in the range of $.68 to $.71.
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For the fiscal year ending February 3, 2024, the Company is
planning overall comparable store sales to be up 2% to 3%. - For the 53-week fiscal year ending February 3, 2024, the Company expects pretax profit margin to be in the range of 10.1% to 10.3% and diluted earnings per share to be in the range of $3.39 to $3.51.
- The Company’s full year guidance includes an expected pretax margin benefit of approximately 0.1 percentage points and a diluted earnings per share benefit of approximately $.10 due to the 53 rd week in the Company’s Fiscal 2024 calendar. Excluding these expected benefits, the Company expects full year Fiscal 2024 adjusted pretax profit margin to be in the range of 10.0% to 10.2% and adjusted diluted earnings per share to be in the range of $3.29 to $3.41 vs. $3.14 consensus
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TJX GAAP EPS of $0.89 in-line, revenue of $14.52B beats by $450M