TJX Companies Reports Q4 Earnings Beat

TJX Companies TJX reported fourth-quarter earnings of 81 cents per share on Wednesday, which beat the analyst consensus estimate of 77 cents by 5.19%. This is a 37.29% increase over earnings of 59 cents per share from the same period last year.

The company reported quarterly sales of $12.2 billion, which beat the analyst consensus estimate of $11.83 billion by 3.13%. This is a 9.64% increase over sales of $11.127 billion the same period last year.

TJX sees fiscal year 2021 EPS at $2.77-$2.83 versus the $2.87 estimate. The company sees first-quarter EPS 59-60 cents versus 61 cents estimate.

TJX says it will raise its quarter dividend by 13%.

"We are extremely pleased with our strong fourth quarter results, as both sales and earnings per share significantly exceeded our expectations,” said Ernie Herrman, CEO TJX Companies. “Fourth-quarter consolidated comparable store sales increased a very strong 6%, over a 6% increase last year. We saw strength across the company, with each major division delivering comp sales growth of 4% or higher, all over strong increases last year and all primarily driven by customer traffic. Our exciting brands and gift-giving assortments at great values, supported by our marketing, attracted customers around the globe during the holiday season and beyond."

TJX Companies shares are trading up 5.49% at $63 in Wednesday’s pre-market session. The stock has a 52-week high of $64.30 and a 52-week low of $49.05.