Free Research Report as TJX’s Sales Jumped 6% and EPS Advanced 20%

LONDON, UK / ACCESSWIRE / December 27, 2017 / Active-Investors.com has just released a free earnings report on The TJX Cos., Inc. (NYSE: TJX) (“TJX”). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=TJX. The Company reported its third quarter fiscal 2018 operating results on November 14, 2017. The off-price retailer’s earnings were in-line with market expectations, and it also provided guidance for the upcoming quarter and fiscal year. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for Sears Hometown and Outlet Stores, Inc. (NASDAQ: SHOS), which also belongs to the Services sector as the Company TJX Cos. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, The TJX most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=TJX

Earnings Highlights and Summary

For the third quarter ended October 28, 2017, TJX’s net sales increased 6% to $8.76 billion compared to $8.29 billion in Q3 FY17, while consolidated comparable store sales remained flat compared to last year’s 5% increase. The Company’s sales numbers fell short of analysts’ estimates of $8.86 billion.

During Q3 FY18, TJX reported a consolidated pretax profit margin of 11.6%, reflecting a 0.9% increase compared to a pretax profit margin of 10.7% in Q3 FY17, but which was down 0.1% compared to the prior year’s adjusted margin of 11.7%, which excluded a debt extinguishment charge and a pension settlement charge.

TJX’s gross profit margin came in at 29.8%, up 0.3% versus the prior year, and was attributed to gains related to the Company’s inventory hedges, as well as an increase in merchandise margin. The Company’s selling, general, and administrative costs were 18.1% of sales for the reported quarter, up 0.5 % versus the prior year’s ratio, primarily due to expenses from hurricanes and wage increases.

For Q3 FY18, TJX’s net income was $641.44 million compared to $549.79 million in Q3 FY17. The Company’s diluted earnings per share (EPS) were $1.00 in the reported quarter, reflecting a 20% increase over the prior year’s GAAP EPS of $0.83, and a 10% increase over the prior year’s adjusted EPS of $.91, which excluded the combined $.08 impact of last year’s debt extinguishment charge and pension settlement charge.

Stores by Concept

During the third quarter ended October 28, 2017, TJX increased its store count by 139 stores to a total of 4,052 stores. The Company increased square footage by 5% over the same period of last year.

Inventory

TJX’s total inventories were $4.7 billion as of October 28, 2017, compared to $4.4 billion at the end of Q3 FY17. The Company’s consolidated inventories on a per-store basis as of October 28, 2017, including the distribution centers, but excluding inventory in transit and the Company’s e-commerce businesses, were down 2% on a reported basis and down 4% on a constant currency basis.

Shareholder Distributions

During Q3 FY18, the Company repurchased a total of $350 million of TJX stock, retiring 4.9 million shares. During the first nine months of the year, the Company repurchased a total of $1.25 billion of TJX stock, retiring 16.9 million shares. TJX is estimating to repurchase approximately $1.5 to $1.8 billion of TJX stock in FY18. The Company returned $197 million to shareholders in Q3 FY18, and $567 million in the first nine months of the year.

Outlook

For the fourth quarter of the fiscal year 2018, TJX is forecasting diluted EPS to be in the range of $1.25 to $1.27, representing a 21% to 23% increase over the prior year’s EPS of $1.03. Excluding an approximate $0.11 benefit from the extra week in the upcoming quarter, the Company expects adjusted EPS to be in the band of $1.14 to $1.16, an 11% to 13% increase over the prior year.

For the 53-week fiscal year ending February 03, 2018, TJX reiterated the high end of its EPS guidance. The Company expects diluted EPS in the range of $3.91 to $3. 93. Excluding this benefit, the Company expects adjusted diluted EPS to be in the band of $3.80 to $3.82. This EPS outlook is based upon estimated consolidated comparable store sales growth of 1% to 2%.

Stock Performance Snapshot

December 26, 2017 – At Tuesday’s closing bell, The TJX’s stock rose 1.57%, ending the trading session at $77.45.

Volume traded for the day: 2.22 million shares.

Stock performance in the last month – up 9.28%; previous three-month period – up 4.97%; past twelve-month period – up 1.32%; and year-to-date – up 3.09%

After yesterday’s close, The TJX’s market cap was at $49.31 billion.

Price to Earnings (P/E) ratio was at 20.92.

The stock has a dividend yield of 1.61%.

The stock is part of the Services sector, categorized under the Department Stores industry. This sector was flat at the end of the session.

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