TJX Q2 FY24 EPS $0.85 (+23%) beats plan; raises full-year guidance

TJX COMPANIES INC /DE/

2024-Q2 EPS reported $1.62 revenue$24,541,000,000

Q2 net sales $12.8B (+8% YoY); overall comp store sales +6%, entirely traffic-driven.
Marmaxx comp +8%, HomeGoods returns to positive comp at +4%; TJX Canada +1%, TJX International +3%.
Pretax profit margin 10.4%, up 120 bps YoY, driven by lower freight costs and expense leverage.
Raises FY24 outlook: comp +3-4%, pretax margin 10.7-10.8%, EPS $3.66-$3.72 (includes ~$0.10 from 53rd week).
Returned $932M to shareholders in Q2: $550M buybacks, $382M dividends; FY24 buyback plan $2.0-$2.5B.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TJX COMPANIES INC /DE/ reported the fiscal quarter ended July 29, 2023 results: revenue $12.8 billion, net income $1.0 billion, EPS $.85. Guidance raised.

Period: the fiscal quarter ended July 29, 2023
Revenue: $12.8 billion
Net income: $1.0 billion
EPS: $.85
Guidance: raised
Result: reported results

Exact text from the filing

Net sales for the second quarter of Fiscal 2024 were $12.8 billion, an increase of 8% versus the second quarter of Fiscal 2023. Overall comp store sales increased 6%. Net income for the second quarter of Fiscal 2024 was $1.0 billion and diluted earnings per share were $.85, up 23% versus $.69 in the second quarter of Fiscal 2023.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TJX COMPANIES INC /DE/ reported the first half of Fiscal 2024 results: revenue $24.5 billion, net income $1.9 billion, EPS $1.62. Guidance raised.

Period: the first half of Fiscal 2024
Revenue: $24.5 billion
Net income: $1.9 billion
EPS: $1.62
Guidance: raised
Result: reported results

Exact text from the filing

For the first half of Fiscal 2024, net sales were $24.5 billion, an increase of 6% versus the first half of Fiscal 2023. First half Fiscal 2024 overall comp store sales increased 4%. Net income for the first half of Fiscal 2024 was $1.9 billion. For the first half of Fiscal 2024, diluted earnings per share were $1.62 versus $1.18 in the first half of Fiscal 2023, an increase of 37%

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Source: SEC EDGAR

accession 0001157523-23-001335

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