TJX Cos. (TJX) reported Q1 EPS of $0.68, $0.08 better than the analyst estimate of $0.60. Revenue for the quarter came in at $11.4 billion versus the consensus estimate of $11.6 billion.
CEO and President Comments
- Ernie Herrman, Chief Executive Officer and President of The TJX Companies (NYSE:TJX), Inc., stated, “I am very pleased with our first quarter performance. I want to recognize the continued commitment and dedication of our talented Associates who bring outstanding values on branded, quality merchandise to our customers every day. I am particularly pleased that our first quarter pretax profit margin and earnings per share, each on an adjusted basis, exceeded our plans even though our sales were slightly below our planned range. This underscores the power of our flexible, off-price business model when we execute well. For the full year, we see opportunity to further improve our profitability. I also want to highlight our largest division, Marmaxx, delivered a comp store sales increase of 3% over 12% open-only comp growth last year, which was driven by an increase in customer traffic. We believe our value proposition is as appealing as ever for consumers in today’s retail environment, and we are excited about our initiatives to drive customer traffic and sales. We remain focused on our long-term vision to become an increasingly profitable, $60-billion-plus company.”