TJX Cos. (TJX) Tops Q1 EPS by 5c

TJX Cos. (NYSE: TJX) reported Q1 EPS of $0.76, $0.05 better than the analyst estimate of $0.71. Revenue for the quarter came in at $11.8 billion versus the consensus estimate of $11.81 billion.

• Overall Comp Store Sales Growth of 3%

GUIDANCE:

TJX Cos. sees Q2 2024 EPS of $0.72-$0.75, versus the consensus of $0.79.

• For the second quarter of Fiscal 2024, the Company is planning overall comparable store sales to be up 2% to 3%. For the second quarter of Fiscal 2024, the Company expects pretax profit margin to be in the range of 9.3% to 9.5% and diluted earnings per share to be in the range of $.72 to $.75.

TJX Cos. sees FY2024 EPS of $3.39-$3.48, versus the consensus of $3.55.

• For the fiscal year ending February 3, 2024, the Company continues to plan overall comparable store sales to be up 2% to 3%. For the 53-week fiscal year ending February 3, 2024, the Company is increasing its expectations for pretax profit margin to a range of 10.3% to 10.5% and diluted earnings per share to be in the range of $3.49 to $3.58. The Company’s full-year guidance includes an expected pretax margin benefit of approximately 0.1 percentage point and a diluted earnings per share benefit of approximately $.10 due to the 53rd week in the Company’s Fiscal 2024 calendar. Excluding these expected benefits, the Company now expects full-year Fiscal 2024 adjusted pretax profit margin to be in the range of 10.2% to 10.4% and adjusted diluted earnings per share to be in the range of $3.39 to $3.48.

For earnings history and earnings-related data on TJX Cos. (TJX) click here.

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