The TJX Companies Earnings: Here’s Why the Stock is Down Now
The TJX Companies, Inc. (NYSE:TJX) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 1.17%.
The TJX Companies, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 12.73% to $0.62 in the quarter versus EPS of $0.55 in the year-earlier quarter.
Revenue: Rose 6.76% to $6.19 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: The TJX Companies, Inc. reported adjusted EPS income of $0.62 per share. By that measure, the company met the mean analyst estimate of $0.62. It beat the average revenue estimate of $6.16 billion.
Quoting Management: Carol Meyrowitz, Chief Executive Officer of The TJX Companies, Inc., stated, “We are very pleased with our first quarter results, especially as they were achieved over the highest year-over-year comparisons for quarterly comp sales and EPS growth of this year. Consolidated comparable store sales increased 2% over an 8% reported increase last year and earnings per share grew 13% over last year’s adjusted 41% increase. We believe the flexibility of our business model allowed us to achieve this growth despite the unfavorable weather patterns across most of our regions for much of the quarter. Flowing the right merchandise at the right time continued to be key to strong merchandise margins. The second quarter is off to a strong start and we are in an excellent position to buy into the enormous opportunities for quality merchandise that we are seeing in the marketplace. Longer term, we remain very confident in our continued ability to grow sales and profitability as we are well on the road to being a $40 billion-plus company!”
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