TJX Cos. (TJX) Tops Q1 EPS by 2c, Offers Q2 and FY Guidance

TJX Cos. (NYSE: TJX) reported Q1 EPS of $0.57, $0.02 better than the analyst estimate of $0.55. Revenue for the quarter came in at $9.3 billion versus the consensus estimate of $9.21 billion.

• Consolidated comp store sales increased 5%, over last year’s 3% increase

GUIDANCE:

TJX Cos. sees Q2 2020 EPS of $0.61-$0.62, versus the consensus of $0.62.

For the second quarter of Fiscal 2020, the Company expects diluted earnings per share to be in the range of $.61 to $.62, a 5% to 7% increase over the prior year’s $.58. The Company expects the combination of incremental freight costs and store wage increases to negatively impact second quarter EPS growth by 2% to 3%. This EPS outlook is based upon estimated comparable store sales growth of 2% to 3% on a consolidated basis and at Marmaxx.

TJX Cos. sees FY2020 EPS of $2.56-$2.61, versus the consensus of $2.61.

For the 52-week fiscal year ending February 1, 2020, the Company is raising its guidance for diluted earnings per share to be in the range of $2.56 to $2.61. This would represent a 5% to 7% increase over the prior year’s $2.43, which included a $.02 negative impact from a pension settlement charge. The Company now expects diluted earnings per share to increase 4% to 7% over the prior year’s adjusted $2.45, which excluded the pension settlement charge. This guidance reflects an assumption that the combination of incremental freight costs and store wage increases will negatively impact EPS growth by 3% to 4%. This EPS outlook is based upon estimated comparable store sales growth of 2% to 3% on a consolidated basis and at Marmaxx.

The Company’s earnings guidance for the second quarter and full-year Fiscal 2020 assumes that currency exchange rates will remain unchanged from the levels at the beginning of the second quarter.

For earnings history and earnings-related data on TJX Cos. (TJX) click here.

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