The TJX Companies (NYSE: TJX) reported their fiscal Q4 2020 earnings, beating analyst expectations on strong growth and profitability for the off price retailer.
Sales for the off-price retailer on the quarter came in at $12.2 billion which was ahead of consensus estimates of $11.84 billion.
Net sales for the quarter were up 10% compared to the same quarter the previous year and the company also saw comparable store sales increase by 6%.
Comparable store sales were especially strong for the company’s International stores in Europe and Australia which saw an increase an increase of 10% on top of the previous year’s 5%.
In all the company increased it’s store count by 223 over the quarter, increasing total square footage by 4% over the same quarter the previous year.
On the bottom line, the company reported earnings of $0.81 per share which beat Wall Street expectations of $0.77 per share.
The company also provided guidance for their fiscal 2021, indicating they expect earnings of $2.77 to $2.83 per share which is below analyst expectations of $2.87 per share.
TJX stock has kept pace with the market recently with the stock gaining just under 39% over 2019 and adding another 1.5% in 2020 thus far. After releasing earnings, the stock was up nearly 6% in pre-market trading as of the time of publishing.
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