TJX Cos. Inc.’s stock
TJX,
was flat early Wednesday, as investors weighed better-than-expected fiscal fourth quarter sales against guidance for fiscal 2025 that lagged estimates. TJX posted net income of $1.403 billion, or $1.22 a share, for the quarter through Feb. 3, up from $1.038 billion, or 89 cents a share, in the year-earlier period. Adjusted per-share earnings came to $1.12, matching the FactSet consensus. Sales rose to $16.411 billion from $14.520 billion, ahead of the $16.202 billion FactSet consensus. Same-store sales rose 5% to beat the FactSet consensus for a rise of 4.3%. The company said it expects to increase its dividend by 13% and buy back $2.0 billion to $2.5 billion of stock in fiscal 2025. CEO Ernie Herrman said the company had a strong finish to 2023 with comparable sales growing at every division. TJX is now expecting first-quarter same-store sales to rise 2% to 3% and for EPS to range from 84 cents to 86 cents. The FactSet consensus is for same-store sales growth of 3.8% and EPS of 86 cents. For fiscal 2025, the company is guiding for same-store sales to be up 2% to 3% and for EPS to range from $3.94 to $4.02. The FactSet consensus is for same-store sales to grow 3.6% and for EPS of $4.11. The stock has gained 31% in the last 12 months, while the S&P 500
SPX,
has gained 28%.
