The TJX Companies, Inc. (TJX)

[MCArmel1]

TJX beats by $0.02, beats on revenue

May 19 2015, 08:40 ET | About: TJX Companies Inc. (TJX) | By: Mohit Manghnani, SA News Editor

TJX (NYSE:TJX): Q1 EPS of $0.69 beats by $0.02.
Revenue of $6.9B (+6.2% Y/Y) beats by $100M.
Shares +4.8% PM.
Press Release

http://seekingalpha.com/news/2532366-tjx-beats-by-0_02-beats-on-revenue?auth_param=ano5b:1almbrl:dbe0175931fd9dd5393b55628ef66eb0&uprof=45#email_link


The TJX Companies, Inc. Reports Above-Plan Q1 FY16 Results with 5% Comp Sales Growth and 8% Increase in Earnings Per Share; Raises Full Year EPS and Comp Guidance
Tue May 19, 2015 8:38 AM|Business Wire | About: TJX

FRAMINGHAM, Mass.--(BUSINESS WIRE)-- The TJX Companies, Inc. (NYSE: TJX), the leading off-price retailer of apparel and home fashions in the U.S. and worldwide, today announced sales and earnings results for the first quarter ended May 2, 2015. Net sales for the first quarter of Fiscal 2016 increased 6% to $6.9 billion, and consolidated comparable store sales increased 5%. Net income for the first quarter was $475 million, and diluted earnings per share were $.69, an 8% increase over the prior year.

Carol Meyrowitz, Chief Executive Officer of The TJX Companies, Inc., stated, We are extremely pleased with our continued momentum and first quarter performance. Our 5% consolidated comparable store sales growth and 8% increase in earnings per share were both well above our plan. Our outstanding values and exciting mix of apparel and home fashions continue to resonate with shoppers across all of our geographies. It was great to see that, similar to last quarter, comp sales were almost entirely driven by customer traffic and we had a significant increase in units sold. At the same time, we also saw a strong increase in our merchandise margins. We were very pleased that we achieved these strong results despite significant foreign currency headwinds and while simultaneously investing in our business to support our growth goals. Our underlying business remains strong, our values are better than ever, and we have many exciting initiatives planned for the remainder of the year to continue driving sales and customer traffic. Further, we are thrilled to see our retail brands becoming more powerful and recognizable with consumers. We are raising our full year earnings per share and comp sales guidance based on the strength of our first quarter results. The second quarter is off to a very strong start and we are confident in our ability to achieve our plans for 2015. We remain convinced that we have the right strategy in place to achieve our long-term growth goals as TJX continues on the path to becoming a $40 billion-plus global, value retailer!

Sales by Business Segment

The Companys comparable store sales and net sales by division, in the first quarter, were as follows:

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http://seekingalpha.com/pr/13554456-the-tjx-companies-inc-reports-above-plan-q1-fy16-results-with-5-percent-comp-sales-growth-and-8-percent-increase-in-earnings-per-share-raises-full-year-eps-and-comp-guidance