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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.
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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