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The TJX Companies, Inc. Reports Q2 FY20 Results; EPS of $0.62 at High End of Guidance
- Consolidated comp store sales increased 2%, over last year’s 6% increase
- Customer traffic was the primary driver of the consolidated comp store sales increase and was up at all four major divisions
- Net sales increased 5% to $9.8 billion
- Diluted EPS of $.62 at high end of Company’s guidance
- Company maintains full year Fiscal 2020 outlook for comp store sales and earnings per share
- Returned $579 million to shareholders in the second quarter through share repurchases and dividends
FRAMINGHAM, Mass.--(BUSINESS WIRE)--August 20, 2019--The TJX Companies, Inc. (NYSE: TJX), the leading off-price apparel and home fashions retailer in the U.S. and worldwide, today announced sales and earnings results for the second quarter ended August 3, 2019. Net sales for the second quarter of Fiscal 2020 increased 5% to $9.8 billion. Consolidated comparable store sales increased 2%, over last year’s 6% increase. Net income for the second quarter was $759 million, and diluted earnings per share were $.62, up 7% versus the prior year’s $.58.
For the first half of Fiscal 2020, net sales were $19.1 billion, a 6% increase over the same period last year. Consolidated comparable store sales for the first half of Fiscal 2020 increased 4%. Net income for the first half of Fiscal 2020 was $1.5 billion, and diluted earnings per share were $1.19, versus the prior year’s $1.15.
Ernie Herrman, Chief Executive Officer and President of The TJX Companies, Inc., stated, “For the second quarter, earnings per share were $.62, at the high end of our expectations, and our consolidated comparable store sales increased 2% versus last year’s 6% growth, which was in line with our guidance. We were very pleased that customer traffic drove our consolidated comp and was up at each of our four major divisions. This quarter marks the 20th straight quarter of customer traffic increases at TJX and Marmaxx. This speaks to the consistency and fundamental strength of our treasure-hunt shopping experience through many types of retail and economic environments. The third quarter is off to a solid start. We feel great about the terrific availability we are seeing in the marketplace for branded, quality merchandise and our ability to capitalize on the opportunities. We are excited about our many initiatives underway to keep driving sales and customer traffic throughout the fall and holiday selling season, and have great confidence in our potential to keep gaining market share around the world!”
The following information was filed by Tjx Companies Inc (TJX) on Tuesday, August 20, 2019 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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