TJX Q1 pretax margin 10.3% beats plan; EPS $.76; raises FY24 guidance

TJX COMPANIES INC /DE/

2024-Q1 EPS reported $0.76 revenue$11,783,000,000

Net income $891M, diluted EPS $.76, up 55% YoY; adjusted EPS up 12% vs prior year adj. EPS of $.68.
Overall comp store sales +3% (at high end of plan); Marmaxx comp +5% on strong apparel/accessories sales.
Pretax profit margin 10.3%, well above plan; up from 7.5% GAAP and 9.4% adjusted; driven by freight and expense timing.
Full-year FY24 EPS guidance raised to $3.49-$3.58; pretax margin guidance raised to 10.3%-10.5% (incl. ~$0.10 from 53rd week).
Returned $841M to shareholders in Q1: $500M stock buyback (6.5M shares) and $341M dividends; dividend raised 13%.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

TJX COMPANIES INC /DE/ reported the fiscal quarter ended April 29, 2023 results: revenue $11.8 billion, net income $891 million, EPS $.76. Guidance raised.

Period: the fiscal quarter ended April 29, 2023
Revenue: $11.8 billion
Net income: $891 million
EPS: $.76
Guidance: raised
Result: reported results

Exact text from the filing

retailer in the U.S. and worldwide, today announced sales and operating results for the first quarter ended April 29, 2023. Net sales for the first quarter of Fiscal 2024 were $11.8 billion, an increase of 3% versus the first quarter of Fiscal 2023. Overall comp store sales increased 3%. Net income for the first quarter of Fiscal 2024 was $891 million and diluted

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Source: SEC EDGAR

accession 0001157523-23-000869

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