TJX Cos. (TJX) Tops Q3 EPS by 2c, Comps Increase 4%, Offers Guidance

TJX Cos. (NYSE: TJX) reported Q3 EPS of $0.68, $0.02 better than the analyst estimate of $0.66. Revenue for the quarter came in at $10.45 billion versus the consensus estimate of $10.32 billion.

• Consolidated comp store sales increase of 4%

GUIDANCE:

TJX Cos. sees Q4 2020 EPS of $0.74-$0.76, versus the consensus of $0.77.

• For the fourth quarter of Fiscal 2020, the Company expects diluted earnings per share to be in the range of $.74 to $.76 versus earnings per share of $.68 in the prior year. This EPS outlook is based upon estimated comparable store sales growth of 2% to 3% on a consolidated basis and at Marmaxx.
• For the 52-week fiscal year ending February 1, 2020, the Company now expects diluted earnings per share to be in the range of $2.61 to $2.63. This would represent a 7% to 8% increase over the prior year’s $2.43, which included a $.02 negative impact from a pension settlement charge. The Company expects diluted earnings per share to increase 7% over the prior year’s adjusted $2.45, which excluded the pension settlement charge. This EPS outlook is based upon estimated comparable store sales growth of 3% on a consolidated basis and 3% to 4% at Marmaxx.
• The Company’s earnings guidance for the fourth quarter and full-year Fiscal 2020 assumes that currency exchange rates will remain unchanged from the levels at the beginning of the fourth quarter.

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

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