LONDON, UK / ACCESSWIRE / April 13, 2018 / Active-Investors.com has just released a free earnings report on The TJX Cos. Inc. (NYSE: TJX) (''TJX''). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=TJX. On February 28, 2018, TJX reported financial results for the fourth quarter and full year ended February 03, 2018. The Company reported significant improvements in consolidated comp store sales and adjusted earnings per share in Q4 FY18. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Earnings Highlights and Summary
TJX's total revenues reached $10.96 billion in for Q4 FY18, an increase of 15.77% from $9.47 billion in Q4 FY17. The revenue growth was attributed to rising customer traffic driven by the Company's eclectic mix of merchandise at excellent values. The reported total revenue number surpassed analysts' estimates by $200 million. The Company's consolidated comparable store sales on a 13-week basis increased 4% in Q4 FY18 compared to 3% in Q4 FY17.
During Q4 FY18, TJX's cost of sales, including buying and occupancy costs was $7.85 billion compared to $6.79 billion in Q4 FY17, reflecting an increase of 15.66%. The Company's selling, general, and administrative (SG&A) expenses advanced 20.16% to $1.9 billion in the reported quarter from $1.58 billion in the year ago same quarter.
TJX reported a net income of $877.28 million in Q4 FY18, an increase of 29.41% from $677.93 million in Q4 FY17. Diluted earnings per share (DEPS) also advanced 33.01% to $1.37 in the quarter under review from $1.03 in the previous year's same quarter. The reported quarter results included a net benefit of $0.17 per share due to items related to the 2017 Tax Act, and a benefit of approximately $0.11 per share from the extra week in the Company's Q4 FY17, and an impairment charge of $0.10 from Sierra Trading Post. TJX's adjusted DEPS, after excluding non-recurring items, was $1.19 in Q4 FY18, up 15.53% from $1.03 in Q4 FY17. The Company's adjusted DEPS missed analysts' consensus forecasts by $0.08.
For the year ending February 03, 2018, TJX's total revenues were $35.86 billion, up 8.08% from $33.18 billion in FY17. The Company's consolidated comparable store sales on a 52-week basis increased 2% in FY18 compared to 5% in FY17. The Company's net income advanced 13.48% to $2.61 billion in FY18 from $2.3 billion in FY17. TJX's DEPS for the reported year was $4.04, 16.76% higher than the $3.46 reported in the previous year. The Company's adjusted DEPS, excluding non-recurring items, was $3.85 in FY18, up 9.07% from $3.53 in FY17.
The TJX Cos.' Segment Details
During Q4 FY18, the Marmaxx United States segment's net revenues were $6.7 billion, up 11.11% y-o-y. This segment reported a profit of $849.22 million in Q4 FY18, an increase of 1% from $840.81 million in Q4 FY17.
For Q4 FY18, Home Goods United States segment's net revenues advanced 21.12% on a y-o-y basis to $1.61 billion. This segment had a profit of $217.24 million in Q4 FY18 compared to $197.78 million in Q4 FY17, reflecting an increase of 9.84%.
The Canada segment's net revenues surged 24.61% to $1.09 billion on a y-o-y basis in Q4 FY18. This segment's reported profit jumped 50.35% to $137.53 million in Q4 FY18 from $91.48 million in Q4 FY17.
The International segment generated net revenues of $1.56 billion in Q4 FY18, an increase of 26.48% from the previous year's same quarter. The segment's profit advanced 28.58% to $116.33 million in Q4 FY18 from $90.47 million in Q4 FY17.
TJX had cash and cash equivalents of $2.76 billion as on February 03, 2018, 5.85% lower than $2.93 billion as on January 28, 2017. The Company's long-term debt at the end of FY18 was $2.23 billion, a slight increase of 0.13% from FY17.
TJX's net cash flow from operating activities was $3.03 billion for the 53 weeks ended February 03, 2018, 16.58% lower than $3.63 billion for the same period last year.
TJX distributed cash dividends of $764 million in the reported year, up 17.36% from $651 million in the previous year. The Company repurchased common stock worth $1.64 billion in FY18 compared to $1.7 billion in FY17. TJX spent $1.06 billion on property additions and $861.2 million on purchases of investment in FY18.
For the 52-week fiscal year ending February 02, 2019, TJX expects DEPS to be in the range of $4.73 to $4.83, an increase of 17%-20% from $4.04 in FY18. The Company forecasts its adjusted DEPS, excluding the benefit related to the 2017 Tax Act, to be in the range of $4.00 to $4.08, an increase of 4%-6% from $3.85 in FY18. This EPS outlook is based upon estimated consolidated comparable store sales growth of 1% to 2%.
For the first quarter of fiscal 2019, TJX expects DEPS to be in the range of $1.00 to $1.02, up from $0.82 in Q1 FY18. The Company projects adjusted DEPS of $0.85 to $0.87 for Q1 FY19. This EPS outlook is based upon estimated consolidated comparable store sales growth of 1% to 2%.
Stock Performance Snapshot
April 12, 2018 - At Thursday's closing bell, TJX's stock was marginally up 0.59%, ending the trading session at $82.53.
Volume traded for the day: 5.13 million shares, which was above the 3-month average volume of 4.52 million shares.
Stock performance in the last month - up 0.28%; previous three-month period - up 8.21%; past twelve-month period - up 7.20%; and year-to-date - up 7.94%
After yesterday's close, TJX's market cap was at $53.13 billion.
Price to Earnings (P/E) ratio was at 21.12.
The stock has a dividend yield of 1.51%.
The stock is part of the Services sector, categorized under the Department Stores industry. This sector was up 0.6% at the end of the session.
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