Exhibit 99.1

The TJX Companies, Inc. Reports Above-Plan Q4 and FY17 Comp Sales and EPS Results; Q4 Comp Sales up 3% and FY17 Comp Sales up 5%; Announces Plans to Increase Dividend 20% and Buy Back $1.3B to $1.8B of Stock; Provides FY18 Guidance

  • Q4 net sales increased a strong 6% to $9.5 billion, over last year’s 8% increase
  • Q4 diluted EPS of $1.03 compared with $.99 in the prior year
  • FY17 net sales increased a strong 7% to $33.2 billion, over last year’s 6% increase
  • FY17 diluted EPS of $3.46 compared with $3.33 in the prior year
  • FY17 adjusted diluted EPS of $3.53, which excludes the negative impact of $.07 from a third quarter debt extinguishment charge and a pension settlement charge
  • Returned $2.4 billion to shareholders in Fiscal 2017 through share repurchases and dividends

FRAMINGHAM, Mass.--(BUSINESS WIRE)--February 22, 2017--The TJX Companies, Inc. (NYSE: TJX), the leading off-price retailer of apparel and home fashions in the U.S. and worldwide, today announced sales and earnings results for the fourth quarter and fiscal year ended January 28, 2017. Net sales for the fourth quarter of Fiscal 2017 increased 6% to $9.5 billion, over an 8% increase last year. Consolidated comparable store sales for the fourth quarter increased 3%, over last year’s 6% increase. Net income for the fourth quarter was $678 million and diluted earnings per share were $1.03, a 4% increase over the prior year’s $.99.

For the 52-week fiscal year ended January 28, 2017, net sales were $33.2 billion, a 7% increase over last year’s 6% increase. Consolidated comparable store sales increased a strong 5%, over last year’s 5% increase. Net income for the fiscal year was $2.3 billion and diluted earnings per share were $3.46, a 4% increase over last year’s $3.33. Excluding a third quarter debt extinguishment charge and pension settlement charge, which combined reduced earnings per share by $.07 per share, adjusted earnings per share were $3.53, a 6% increase over the prior year’s $3.33.

Ernie Herrman, Chief Executive Officer and President of The TJX Companies, Inc., stated, “The year 2016 was another terrific year for TJX on top of many great years! We were proud to mark our 40-year milestone as a company and surpass $33 billion in sales! Our consolidated comp sales increased a strong 5%, above our plan and over 5% growth last year, and earnings per share growth exceeded our expectations. We also delivered a 7% increase in net sales, over a 6% increase last year. We were particularly pleased that customer traffic was the primary driver of our comp increases at every major division, which tells us that our eclectic merchandise mix and amazing values continue to resonate with consumers across our geographies. It was also great to see a strong increase in our merchandise margin, over a very solid increase last year. The year 2016 also marked our 21st consecutive year of comp sales increases! We were also very pleased to end the year with above-plan fourth quarter results. Our 3% consolidated comp store sales increase and earnings per share of $1.03 both exceeded our expectations. Once again, comp sales were driven by customer traffic and our merchandise margin was up. Our fourth quarter and full year results give us great confidence that we are growing our customer base around the world and gaining market share across all our divisions!”

Herrman continued, “Looking ahead, we see many opportunities to continue our successful growth and are pursuing many initiatives to keep driving shoppers to our stores. We are making strategic investments in our infrastructure, stores, and new seeds to strengthen our leadership positions and allow us to capture additional market share in the U.S. and internationally. Our management team is laser focused on achieving our 2017 plans and, as always, passionate about surpassing them. We have a clear, long-term vision for growth and are confident that we have the right strategy, culture and people in place as we continue to grow TJX as the only major international off-price retailer in the world!”


The following information was filed by Tjx Companies Inc (TJX) on Wednesday, February 22, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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