Tjx Companies Inc Stock Price, News & Analysis

The TJX Companies, Inc. (NYSE: TJX) announced a 13% increase in its quarterly dividend, raising it to $.3325 per share. This dividend is payable on June 1, 2023, to shareholders on record as of May 11, 2023. This marks the company's 26th dividend increase in the last 27 years, with an average annual growth rate of 20%. TJX also plans a substantial share buyback program of approximately $2.0 to $2.5 billion for Fiscal 2024, reflecting strong confidence in ongoing sales and cash flow.

The TJX Companies reported Q4 FY23 net sales of $14.5 billion, up 5% from the previous year, with U.S. comp store sales increasing 4%. Q4 diluted earnings per share rose 14% to $0.89, meeting company expectations. However, FY23 U.S. comp store sales were flat, contrasting with a 17% rise last year. Despite challenges, the company returned $3.6 billion to shareholders via dividends and share buybacks. Looking ahead, TJX anticipates a pretax profit margin increase in FY24, targeting 10.6% by FY25. A quarterly dividend hike to $0.3325 is planned for June 2023.

The TJX Companies, Inc. announced plans to release its fourth quarter and full year Fiscal 2023 sales and earnings results on February 22, 2023, before 9:30 a.m. ET.

CEO Ernie Herrman will discuss these results during a conference call at 11:00 a.m. ET, which will be webcast live. The company operates 4,793 stores globally and is the leading off-price retailer for apparel and home fashions. The detailed financial results and operational trends will be outlined during the call, providing insights into the company's performance and future outlook.

The TJX Companies, Inc. has announced a quarterly dividend of $.295 per share, payable on March 2, 2023, to shareholders of record by February 9, 2023. This decision reflects the company's ongoing commitment to returning value to shareholders, supported by its established presence of 4,793 stores across nine countries as of October 29, 2022. TJX remains a leading off-price retailer for apparel and home fashions worldwide, aiming to maintain its robust operational strategy.

The TJX Companies, Inc. has announced the promotion of John Klinger to Executive Vice President and Chief Financial Officer, effective January 29, 2023, coinciding with the start of the fiscal year. Klinger, who has been with TJX since 2000, will supervise Corporate Finance, including Audit, Treasury, Tax, and Investor Relations. Current CFO Scott Goldenberg will transition to Senior Executive Vice President, continuing to oversee various corporate functions. CEO Ernie Herrman expressed confidence in their leadership and expertise as integral to the company's continued success.

The TJX Companies reported a 3% increase in Q3 FY23 comp store sales at Marmaxx, though total net sales fell by 3% to $12.2 billion. U.S. comp store sales decreased 2%, following a 16% increase last year. Q3 FY23 diluted EPS was $0.91, with adjusted EPS at $0.86. The company returned $843 million to shareholders. For Q4 FY23, TJX revised its U.S. comp store sales outlook to flat to up 1%. The pretax profit margin reached 11.2%, exceeding expectations partly due to expense timing.