TJX Q3 2023 Earnings Report
Key Takeaways
TJX Companies Inc. reported Q3 Fiscal Year 2023 results, with net sales of $12.2 billion, a 3% decrease compared to Q3 Fiscal 2022. Diluted earnings per share were $0.91, and adjusted diluted earnings per share were $0.86, excluding a $0.05 tax benefit.
Marmaxx comp store sales increased 3% driven by strong apparel sales.
U.S. comp store sales decreased 2%, above the Company’s plan.
Pretax profit margin was 11.2%.
The company returned $843 million to shareholders through share repurchases and dividends.
TJX
TJX
TJX Revenue by Segment
Forward Guidance
The Company is increasing its outlook for U.S. comparable store sales and is now planning them to be flat to up 1% versus a 13% U.S. open-only comp store sales increase in the fourth quarter of Fiscal 2022.
Positive Outlook
- Increasing Q4 U.S. comp store sales outlook to flat to up 1%
Revenue & Expenses
Visualization of income flow from segment revenue to net income