TJX Cos. (TJX) Misses Q4 EPS by 13c, Offers Guidance

TJX Cos. (NYSE: TJX) reported Q4 EPS of $0.78, $0.13 worse than the analyst estimate of $0.91. Revenue for the quarter came in at $13.9 billion versus the consensus estimate of $14.25 billion.

GUIDANCE:

TJX Cos. sees Q1 2023 EPS of $0.58-$0.61, versus the consensus of $0.60.

• For the first quarter of Fiscal 2023, the Company is planning U.S. comparable store sales to be up 1% to 3% over an outsized 17% U.S. open-only comp store sales increase in the first quarter of Fiscal 2022. The Company is very pleased with its strong U.S. comparable store sales growth (defined below) to start the first quarter of Fiscal 2023. The Company’s first quarter Fiscal 2023 U.S. comparable store sales outlook takes into account the cadence of U.S. open-only comp stores sales growth in the first quarter of Fiscal 2022, which was up low to mid-single digits to start the quarter and then accelerated to a 20%-plus increase in March and April combined. For the first quarter of Fiscal 2023, the Company expects diluted earnings per share to be in the range of $.58 to $.61 versus earnings per share of $.44 in the prior year.
• For the full year Fiscal 2023, the Company is planning U.S. comparable store sales to be up 3% to 4% over an outsized 17% U.S. open-only comp store sales increase in Fiscal 2022. At this time, the Company is not providing full year Fiscal 2023 diluted earnings per share guidance given the current uncertainty around how long elevated expense pressures may persist.

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

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