Exhibit 99.1

The TJX Companies, Inc. Reports Q4 and FY18 Results; Achieves Above-Plan Q4 Comp Sales Growth of 4% and Exceeds Q4 EPS Expectations; Announces Plan to Increase Dividend 25% and Buy Back $2.5 to $3.0 Billion of Stock; Provides FY19 Guidance

  • Q4 net sales for the 14-week period increased 16% to $11.0 billion
  • Q4 consolidated comparable store sales on a 13-week basis increased 4% over last year’s 3% increase
  • Q4 GAAP diluted EPS of $1.37, compared with $1.03 in the prior year
  • Q4 adjusted diluted EPS of $1.19, which excludes a $.17 net benefit due to items related to the 2017 Tax Act (described below), a benefit of approximately $.11 from the extra week in the Company’s Fiscal 2018 fourth quarter, and a $.10 impairment charge related to Sierra Trading Post (described below), compared with $1.03 in Q4 of the prior year
  • FY18 net sales for the 53-week period increased 8% to $35.9 billion
  • FY18 consolidated comparable store sales on a 52-week basis increased 2% over last year’s 5% increase
  • FY18 GAAP diluted EPS of $4.04, compared with $3.46 in the prior year
  • FY18 adjusted diluted EPS of $3.85, which excludes the same Q4 items mentioned above, compared with an adjusted $3.53 in the prior year
  • Returned $2.4 billion to shareholders in Fiscal 2018 through share repurchases and dividends

FRAMINGHAM, Mass.--(BUSINESS WIRE)--February 28, 2018--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 ended February 3, 2018. Net sales for the 14-week fourth quarter of Fiscal 2018 increased 16% to $11.0 billion. Consolidated comparable store sales on a 13-week basis increased 4%, compared to last year’s 3% increase. Net income for the 14-week fourth quarter was $877 million and diluted earnings per share were $1.37. Adjusted diluted earnings per share for the fourth quarter were $1.19, a 16% increase over the prior year’s $1.03.

For the 53-week fiscal year ended February 3, 2018, net sales were $35.9 billion, an 8% increase over last year’s 7% increase. Consolidated comparable store sales on a 52-week basis increased 2% over last year’s 5% increase. Net income for the 53-week fiscal year was $2.6 billion and diluted earnings per share were $4.04 versus $3.46 in the prior year. Adjusted diluted earnings per share for the fiscal year were $3.85, a 9% increase over the prior year’s adjusted $3.53, which excluded a combined $.07 negative impact from a debt extinguishment charge and a pension settlement charge.

Ernie Herrman, Chief Executive Officer and President of The TJX Companies, Inc., stated, “We are very pleased with our strong finish to 2017! In the fourth quarter, our consolidated comp store sales increase of 4% and adjusted earnings per share both meaningfully exceeded our expectations. Once again, customer traffic was up overall and the primary driver of our comp sales increases at each of our four major divisions, as customers responded to our great brands and compelling, eclectic mix of merchandise at excellent values. We are also pleased with our full-year performance as we surpassed $35 billion in annual sales, an important milestone for our Company! Consolidated comp store sales were up 2% as we marked the 22nd consecutive year of comp sales growth for TJX. For the full year, adjusted earnings per share were also above our plan.”

Herrman continued, “Looking ahead, 2018 is off to a solid start. We see abundant opportunities in the marketplace for major brands and high-quality merchandise and are pursuing numerous initiatives to keep driving sales and customer traffic. Our management team is laser focused on achieving our 2018 plans and, as always, passionate about surpassing them.”


The following information was filed by Tjx Companies Inc (TJX) on Wednesday, February 28, 2018 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.

View differences made from one year to another to evaluate Tjx Companies Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Tjx Companies Inc.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Log in with your credentials

or    

Forgot your details?

Create Account