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Apr 29, 2023
TJX Q1 2024 Earnings Report
TJX's Q1 2024 financial results were reported, featuring pretax profit margin of 10.3% and EPS of $0.76, along with overall comp store sales growth of 3% and Marmaxx comp store sales growth of 5%.
Key Takeaways
TJX Companies Inc. reported a strong first quarter in fiscal year 2024, with pretax profit margin and earnings per share significantly exceeding expectations. The company's comparable store sales increased by 3%, driven by higher customer traffic, and Marmaxx division saw a 5% increase. As a result, the company is raising its full-year guidance for both pretax profit margin and earnings per share.
Pretax profit margin reached 10.3%, surpassing the company's plan.
Diluted earnings per share were $0.76, exceeding the company's expectations.
Overall comp store sales increased by 3%, reaching the high-end of the company's plan due to increased customer traffic.
Marmaxx comp store sales grew by 5%, driven by strong performance in apparel and accessories.
TJX
TJX
TJX Revenue by Segment
Revenue by Segment
Marmaxx Revenue
CapyFin.comHomeGoods Revenue
CapyFin.comTJX Canada Revenue
CapyFin.comTJX International Revenue
CapyFin.com Forward Guidance
For the second quarter of Fiscal 2024, the Company is planning overall comparable store sales to be up 2% to 3%. For the second quarter of Fiscal 2024, the Company expects pretax profit margin to be in the range of 9.3% to 9.5% and diluted earnings per share to be in the range of $.72 to $.75. For the fiscal year ending February 3, 2024, the Company continues to plan overall comparable store sales to be up 2% to 3%. For the 53-week fiscal year ending February 3, 2024, the Company is increasing its expectations for pretax profit margin to a range of 10.3% to 10.5% and diluted earnings per share to be in the range of $3.49 to $3.58.
Revenue & Expenses
Visualization of income flow from segment revenue to net income