The TJX Companies, Inc. (TJX)

[MCArmel1]

TJX beats by $0.01, beats on revenue

Nov 17 2015, 08:38 ET | About: TJX Companies Inc. (TJX) | By: Mohit Manghnani, SA News Editor

TJX (NYSE:TJX): Q3 EPS of $0.86 beats by $0.01.

Revenue of $7.75B (+5.2% Y/Y) beats by $20M.

Shares +5.5% PM.

Press Release

http://seekingalpha.com/news/2934766-tjx-beats-by-0_01-beats-on-revenue?uprof=45#email_link


The TJX Companies, Inc. Reports above-Plan Q3 FY16 Results with 5% Comp Sales Growth and Earnings Per Share of $.86
1 comment | Tue November 17, 2015 8:35 AM|Business Wire | About: TJX

FRAMINGHAM, Mass.--(BUSINESS WIRE)-- The TJX Companies, Inc. (NYSE (NYX): 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 third quarter ended October 31, 2015. Net sales for the third quarter of Fiscal 2016 increased 5% to $7.8 billion and consolidated comparable store sales increased 5% over last years 2% increase. Net income for the third quarter was $587 million and diluted earnings per share were $.86 versus last years $.85.

For the first nine months of Fiscal 2016, net sales were $22.0 billion, a 6% increase over last year, and consolidated comparable store sales increased 5%. Net income for the first nine months of Fiscal 2016 was $1.6 billion. Diluted earnings per share were $2.35, a 5% increase over the prior years adjusted $2.23, which excluded a $.01 per share debt extinguishment charge from reported earnings per share of $2.22.

Carol Meyrowitz, Chairman and Chief Executive Officer of The TJX Companies, Inc., stated, I am extremely pleased with our third quarter performance as our momentum continued. Our 5% consolidated comparable store sales growth, over a 2% increase last year, continued our excellent trend from the first two quarters and significantly exceeded our plans. Our $.86 in earnings per share was also well above our expectations. We are delighted that strong customer traffic drove our entire consolidated comp and was the primary driver of our comp increases at every division. Our excellent traffic gains and strong performance across our apparel, accessories and home categories, demonstrate that our brands globally are offering the right values and merchandise mix. Again this quarter, we saw strong sales at every division. I am particularly pleased with our ability to simultaneously deliver exceptional value to consumers while maintaining strong merchandise margins, which speaks to the flexibility of our off-price business model. Our goal is to keep serving consumers and growing our market share around the world. To that end, we continue to balance growth with investments in our future to establish a strong foundation in the U.S. and internationally. Further, we were happy to add Trade Secret, an Australian off-price retailer, to our family of companies in October. As to the fourth quarter, we are pleased to see that traffic continues to be up and we could not be more excited about the holiday selling season. I am convinced that our gift-giving selections are better than ever this year and that our holiday marketing campaigns will resonate with consumers and attract more shoppers to our stores. With our clear vision for global growth, a differentiated apparel and home fashions business, and world-class organization, I am very confident we will grow TJX to a $40 billion-plus company!

Sales by Business Segment

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

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