- TJX Companies (NYSE:TJX) impresses with a 3% gain in comparable sales against a challenged retail backdrop. The 3% comp came in against a 6% mark from a year ago and topped the consensus estimate for a 2.5% increase.
- "We were particularly pleased that customer traffic was the primary driver of our comp increases at every major division, which tells us that our eclectic merchandise mix and amazing values continue to resonate with consumers across our geographies," says CEO Ernie Hermann.
- Consolidated pretax profit margin fell 30 bps to 11.6% during the quarter. Gross profit margin was down 40 bps to 28.3%. SG&A expenses as a percentage of sales were flat at 28.3%.
- The company sees Q1 EPS of $0.76-$0.78 vs. $0.81 consensus and 2018 EPS of $3.80-$3.89 vs. $3.79. Buybacks of $1.3B to $1.8B are planned for the fiscal year which ends in February 2018. TJX's dividend payout rate was boosted by 20%.
- Previously: TJX beats by $0.03, beats on revenue (Feb. 22)
- TJX +1.46% premarket to $77.35.