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May 02, 2020
TJX Q1 2021 Earnings Report
TJX's Q1 2021 results were impacted by temporary store closures due to COVID-19, resulting in net loss.
Key Takeaways
TJX Companies reported Q1 FY21 net sales of $4.4 billion and a loss per share of ($.74). The results were negatively impacted by temporary store closures due to the COVID-19 pandemic, resulting in a substantial pre-tax loss. However, the company is seeing very strong initial sales overall at stores across all states and countries that have been reopened at least a week.
Q1 FY21 net sales reached $4.4 billion.
Q1 FY21 loss per share was ($.74).
The company began reopening stores on May 2, 2020, and is seeing very strong initial sales.
The company took prudent actions to strengthen financial liquidity and flexibility in response to COVID-19.
Forward Guidance
The Company continues to expect its results to be significantly impacted by the ongoing COVID-19 pandemic. Due to the high level of uncertainty around store reopenings, the current retail environment, and future consumer demand, it remains difficult to forecast a financial outlook for the remainder of the year. Therefore, the Company is not providing a Fiscal 2021 financial outlook at this time.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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