TJX Cos. (TJX) Tops Q2 EPS by 3c, Updates FY EPS Guidance
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TJX Cos. (NYSE: TJX) reported Q2 EPS of $0.84, $0.03 better than the analyst estimate of $0.81. Revenue for the quarter came in at $7.88 billion versus the consensus estimate of $7.85 billion.
The Company’s comparable store sales and net sales by division, in the second quarter, were as follows:
|Second Quarter||Second Quarter|
|Comparable Store Sales1,2||Net Sales ($ in millions)3,4|
|TJX International (Europe & Australia)7||+2%||+5%||$1,040||$963|
TJX Cos. sees FY2017 EPS of $3.39-$3.43, versus prior guidance of $3.35-$3.42 and the consensus of $3.50.
Q3 EPS is seen at $0.83-$0.85 vs consensus of $0.90.
Ernie Herrman, Chief Executive Officer and President of The TJX Companies, Inc., stated, “It was terrific to see our strong customer traffic and comps continue in the second quarter. Our consolidated comparable store sales increase of 4%, over 6% growth last year, and our earnings per share increase of 5% both exceeded our expectations. Further, we are extremely pleased that our comp store sales growth was almost entirely driven by customer traffic. We are convinced that we are gaining consumer market share as our excellent values on a compelling selection of brands and fashions are drawing customers to our retail brands around the world. We also are very pleased that our apparel, including accessories, and home businesses both performed well. Further, we saw a strong merchandise margin increase. We believe our robust sales, customer traffic and merchandise margins all speak to the strength of our off-price retail model. With our above-plan second quarter results, we are raising our guidance for full year comp sales to increase 3% to 4% and earnings per share to be in the range of $3.39 to $3.43. The third quarter is off to a solid start, and we see plentiful opportunities for our business in the second half of the year and beyond. We remain laser focused on achieving our goals for 2016 and are passionate about surpassing them. We continue on the road to becoming a $40 billion-plus company!”
For earnings history and earnings-related data on TJX Cos. (TJX) click here.
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