TJX Companies Beats On Q4 Topline, Surpasses $50B Milestone In Annual Sales, Plans Stock Repurchase And Dividend Increase
Portfolio Pulse from Nabaparna Bhattacharya
TJX Companies, Inc. (NYSE:TJX) reported Q4 FY24 sales of $16.41 billion, surpassing analyst expectations and marking a 13% year-over-year increase. The company achieved a milestone with over $50 billion in annual sales. Adjusted EPS was $1.12, in line with forecasts. Net income for the quarter was $1.4 billion, with a 37% increase in diluted EPS compared to the previous year. Comparable store sales rose by 5%, and the gross profit margin increased by 370 basis points. TJX announced a stock repurchase plan of $2.0 to $2.5 billion and a 13% dividend increase. The company's FY25 EPS outlook is slightly below estimates.
February 28, 2024 | 4:55 pm
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POSITIVE IMPACT
TJX Companies reported strong Q4 FY24 results, surpassing sales expectations and announcing significant stock repurchase and dividend increase plans. However, its FY25 EPS outlook is below estimates.
The positive earnings report and surpassing the $50 billion annual sales milestone are likely to boost investor confidence in TJX. The announced stock repurchase and dividend increase further signal the company's strong financial health and commitment to returning value to shareholders. However, the slightly lower than expected EPS outlook for FY25 could temper some of the positive sentiment.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100