UPDATE: TJX Cos. (TJX) Tops Q4 EPS by 3c, Increases Dividend and Raises Buyback
TJX Cos. (NYSE: TJX) reported Q4 EPS of $1.03, $0.03 better than the analyst estimate of $1.00. Revenue for the quarter came in at $9.5 billion versus the consensus estimate of $9.44 billion. Comps sales increased 3%.
The Company’s comparable store sales and net sales by division, in the fourth quarter, were as follows:
| Fourth Quarter | Fourth Quarter | ||||||||||||
| Comparable Store Sales1,2 | Net Sales ($ in millions)3,4 | ||||||||||||
| FY2017 | FY2016 | FY2017 | FY2016 | ||||||||||
| Marmaxx (U.S.)5,6 | +3% | +6% | $6,029 | $5,720 | |||||||||
| HomeGoods (U.S.) | +5% | +7% | $1,329 | $1,180 | |||||||||
| TJX Canada | +4% | +14% | $873 | $781 | |||||||||
| TJX International (Europe & Australia) | +2% | +1% | $1,236 | $1,280 | |||||||||
| TJX | +3% | +6% | $9,468 | $8,962 | |||||||||
The Company intends to increase the regular quarterly dividend on its common stock to be declared in April 2017 and payable in June 2017 to $.3125 per share, subject to the approval of the Company’s Board of Directors.
The Company also announced today its plan to repurchase approximately $1.3 to $1.8 billion of TJX stock during the fiscal year ending February 3, 2018. With $1.8 billion remaining at Fiscal 2017 year end under the Company’s existing stock repurchase program, the Company’s Board of Directors approved a new stock repurchase program that authorizes the repurchase of up to an additional $1.0 billion of TJX common stock from time to time. The new authorization represents approximately 2% of the Company’s outstanding shares at current prices. The new stock repurchase program marks the 18th program approved by the Board since 1997
For earnings history and earnings-related data on TJX Cos. (TJX) click here.