TJX Q1 Earnings Rise
May 21st 2013 6:34PM
Updated May 21st 2013 7:45PM
TJX saw earnings rise in its first fiscal quarter, according to its just-released earnings report. Net sales for the parent company of Marshalls, T.J. Maxx, and HomeGoods were $6.2 billion, up from the $5.8 billion in the same period the previous year. Net profit saw an 8% rise, to $453 million ($0.62 per diluted share) from Q1 2013's result of $419 million ($0.55).
In terms of operational metrics, TJX's same-store sales advanced by 2% on a year-over-year basis during the quarter. That figure was 8% in Q1 2013.
TJX also provided forward guidance. For its current Q2 2014, the company believes its same-store sales will rise 2%-3%, resulting in EPS of $0.61-$0.63, compared with Q2 2013's $0.56. For the entirety of fiscal 2014, EPS is projected to come in at $2.70-$2.78, against fiscal 2013's $2.47.
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