TJX Companies concluded the year with impressive earnings and sales figures that exceeded analysts’ expectations, driven by strong customer demand across all its store banners. The off-price retail powerhouse reported a net income of $1.4 billion for the quarter ending February 1, translating to earnings of $1.23 per share, slightly up from $1.22 per share in the previous year. Despite net sales remaining flat at $16.35 billion, they surpassed estimates of $16.21 billion. The company noted a 5% rise in comparable-store sales, with notable increases in its various divisions, particularly a 10% surge in TJX Canada. 

Looking ahead, TJX is optimistic about future growth, raising its long-term store potential to 7,000 locations—an increase of over 1,900 stores. Plans for the current fiscal year include opening approximately 40 new Marmaxx  (T.J.  Maxx and Marshalls) stores, 30 HomeGoods stores, and 20 Sierra stores, as well as remodeling 500 existing stores. Additionally, the company has been expanding its international presence, including a joint venture in Mexico and partial ownership of a Middle Eastern retailer. For the upcoming fiscal year, TJX anticipates earnings per share in the range of $4.34 to $4.43, slightly below analyst estimates, and projects a modest 2% to 3% increase in comparable-store sales. 

To read more, click the link below. 

TJX maintains momentum in Q4 with gains across divisions; to open 90 U.S. stores | Chain Store Age