From CNBC:

TJX Cos reported a 13% increase in holiday sales, exceeding expectations. Despite strong performance, it issued guidance below Wall Street’s estimates due to upcoming challenges. Earnings per share were $1.22 vs. $1.12 expected, and revenue was $16.41 billion vs. $16.21 billion expected. Shares rose over 1% in response to the news.

For the quarter ended Feb. 3, TJX reported net income of $1.4 billion, or $1.22 per share. Sales increased by about 13% to $16.41 billion. Expectations for next quarter’s earnings per share are 84 cents to 86 cents, slightly below Wall Street’s estimates. Full-year estimates are $3.94 to $4.02.

TJX, owner of T.J. Maxx and Marshall’s, is a standout in the off-price sector. Its ability to offer premium products at competitive prices has attracted budget-conscious shoppers. During holidays, consumers focused on finding bargains, boosting TJX’s sales. TJX has a positive outlook, unlike many competitors grappling with slowing demand.

Sales at Marmaxx, which includes T.J. Maxx and Marshall’s, increased 5%, exceeding expectations. U.S. sales for T.J. Maxx and Marshalls grew 11.7%. HomeGoods saw a 7% increase in comparable sales. The off-price retailer is benefiting from consumers seeking value and quality in the face of inflation and economic uncertainty.



Read more at CNBC:: TJX Companies (TJX) earnings Q4 2024