Edition:
India

The Tjx Companies Reports Quarterly Results


Tuesday, 21 May 2019 

May 21 (Reuters) - TJX Companies Inc ::THE TJX COMPANIES, INC. REPORTS ABOVE-PLAN Q1 FY20 RESULTS WITH COMP SALES GROWTH OF 5% AND EPS OF $.57; RAISES FULL-YEAR EPS GUIDANCE.INCREASED FISCAL 2020 EPS GUIDANCE.INCREASED COMPANY'S QUARTERLY DIVIDEND BY 18% IN Q1.IN QUARTER CONSOLIDATED COMP STORE SALES INCREASED 5%, OVER LAST YEAR'S 3% INCREASE.QTRLY MARMAXX NET SALES $5,802 MILLION VERSUS $5,381 MILLION.QTRLY NET SALES INCREASED 7% TO $9.3 BILLION.TOTAL INVENTORIES AS OF MAY 4, 2019, WERE $5.1 BILLION, COMPARED WITH $4.4 BILLION AT END OF Q1 LAST YEAR.NET SALES FOR Q1 OF FISCAL 2020 INCREASED 7% TO $9.3 BILLION.FOR Q2 OF FISCAL 2020, COMPANY EXPECTS DILUTED EARNINGS PER SHARE TO BE IN RANGE OF $.61 TO $.62.TJX COMPANIES - FOR 52-WEEK FY ENDING FEB 1, 2020, COMPANY IS RAISING ITS GUIDANCE FOR DILUTED EARNINGS PER SHARE TO BE IN RANGE OF $2.56 TO $2.61.QTRLY MARMAXX (U.S.) COMP STORE SALES UP 6 PERCENT.FY2020 EARNINGS PER SHARE VIEW $2.61 -- REFINITIV IBES DATA.Q2 EARNINGS PER SHARE VIEW $0.62 -- REFINITIV IBES DATA.EXPECTS COMBINATION OF INCREMENTAL FREIGHT COSTS AND STORE WAGE INCREASES TO NEGATIVELY IMPACT Q2 EPS GROWTH BY 2% TO 3%.TJX COMPANIES - MOVEMENT IN FOREIGN CURRENCY EXCHANGE RATES HAD A 1 PERCENTAGE POINT NEGATIVE IMPACT ON NET SALES GROWTH IN Q1 VERSUS PRIOR YEAR.Q1 EARNINGS PER SHARE VIEW $0.55, REVENUE VIEW $9.22 BILLION -- REFINITIV IBES DATA.