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Jan 28, 2023
TJX Q4 2023 Earnings Report
TJX reported Q4 and FY23 results, with above-plan U.S. comp sales growth and Marmaxx comp sales growth. The company plans to increase its dividend and buy back stock.
Key Takeaways
TJX Companies reported a 5% increase in net sales for Q4 2023, reaching $14.5 billion. U.S. comp store sales increased by 4%, and diluted earnings per share rose by 14% to $0.89. The company plans to increase its dividend by 13% and repurchase $2.0 to $2.5 billion of stock in FY24.
Q4 FY23 U.S. comp store sales increased 4%, exceeding company expectations.
Marmaxx comp sales grew by 7% in Q4 FY23, driven by strong apparel and accessories sales.
Diluted earnings per share for Q4 FY23 were $0.89, a 14% increase year-over-year.
The company intends to raise its dividend by 13% and repurchase $2.0 to $2.5 billion of stock in FY24.
Forward Guidance
For the first quarter of Fiscal 2024, the Company is planning overall comparable store sales to be up 2% to 3%. For the first quarter of Fiscal 2024, the Company expects pretax profit margin to be in the range of 9.2% to 9.5% and diluted earnings per share to be in the range of $.68 to $.71.
Positive Outlook
- Planning overall comparable store sales to be up 2% to 3% for Q1 FY24.
- Expecting pretax profit margin to be in the range of 9.2% to 9.5% for Q1 FY24.
- Expecting diluted earnings per share to be in the range of $.68 to $.71 for Q1 FY24.
- Planning overall comparable store sales to be up 2% to 3% for FY24.
- Expecting pretax profit margin to be in the range of 10.1% to 10.3% for FY24.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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