TJX Cos. Inc.’s stock TJX remained steady early Wednesday, following the release of its fiscal fourth-quarter sales report, which surpassed expectations. However, the company’s guidance for fiscal 2025 fell short of estimates.
Financial Performance
- Net Income: TJX reported a net income of $1.403 billion, or $1.22 per share, for the quarter ending Feb. 3, compared to $1.038 billion, or 89 cents per share, in the same period last year.
- Adjusted Earnings: The adjusted per-share earnings stood at $1.12, aligning with the FactSet consensus.
- Sales: Total sales surged to $16.411 billion from $14.520 billion, exceeding the FactSet consensus of $16.202 billion.
- Same-Store Sales: Same-store sales increased by 5%, outperforming the FactSet consensus of a 4.3% rise.
Future Outlook
- Dividend and Stock Buyback: TJX plans to boost its dividend by 13% and repurchase $2.0 billion to $2.5 billion of its shares in fiscal 2025.
- First Quarter Projections: The company anticipates a 2% to 3% growth in same-store sales for the first quarter, with EPS ranging from 84 cents to 86 cents, slightly below the FactSet consensus.
- Fiscal 2025 Forecast: TJX expects same-store sales to rise by 2% to 3%, with EPS projected to range between $3.94 and $4.02, falling short of the FactSet consensus.
CEO Statement
CEO Ernie Herrman expressed satisfaction with the strong performance in 2023, noting growth in comparable sales across all divisions.
Market Performance
Despite recent fluctuations, TJX’s stock observed a notable 31% increase over the past year, surpassing the S&P 500’s gain of 28%.