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.
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.
Visualization of income flow from segment revenue to net income