TJX Q1 2022 Earnings Report

TJX reported Q1 FY22 results well above plan with overall open-only comp store sales up and earnings per share increased.

Key Takeaways

TJX Companies Inc. reported a strong first quarter with net sales of $10.1 billion, a 9% increase compared to Q1 FY20. Overall open-only comp store sales increased by 16% compared to Q1 FY20, and diluted earnings per share were $0.44.

Overall open-only comp store sales increased 16% compared to Q1 FY20.

Diluted earnings per share were $0.44.

Net sales were $10.1 billion, a 9% increase compared to Q1 FY20.

Temporary store closures negatively impacted Q1 FY22 sales by approximately $1.1 billion to $1.2 billion and EPS by approximately $0.21 to $0.24.

Total Revenue

$10.1B

Previous year: $4.41B

+128.8%

EPS

$0.44

Previous year: -$0.74

-159.5%

Comp Store Sales Growth

16%

Gross Profit

$2.83B

Previous year: -$5.58M

-50862.5%

Cash and Equivalents

$8.78B

Previous year: $4.29B

+104.7%

Free Cash Flow

-$658M

Previous year: -$3.37B

-80.5%

Total Assets

$30.3B

Previous year: $25.4B

+19.2%

TJX

TJX Revenue by Segment

Forward Guidance

For the start of the second quarter of Fiscal 2022, overall open-only comp store sales trends remain similar to the first quarter. In the second quarter of Fiscal 2022, the Company expects total sales, pretax margin, and earnings per share to be negatively impacted from the temporary store closings.

Challenges Ahead

Total sales are expected to be negatively impacted by temporary store closings.
Pretax margin is expected to be negatively impacted by temporary store closings.
Earnings per share are expected to be negatively impacted by temporary store closings.
Continued uncertainty of the current environment.
Environment remains uncertain, particularly internationally.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View TJX