Stock Market News

TJX Companies forecasts revised down

2023.02.22 09:12

TJX Companies forecasts revised down
TJX Companies forecasts revised down

TJX Companies forecasts revised down

By Kristina Sobol  

Budrigannews.com – Companies like TJX (NYSE:) offered an unfavorable outlook for the first quarter and the year as a whole, despite rising costs. were $0.89, which was in line with the estimates. Revenue increased 4.8 percent to $14.52 billion, beating the consensus estimate of $14.06 billion.

The fact that the gross profit margin fell 100 points to 26.1% from the 27.8% consensus was disappointing to analysts.

“This holiday season, our diverse and constantly shifting assortment of gift sets clearly resonated with customers. U.S. comp store sales increased by 4% in the fourth quarter, exceeding our expectations, and customer traffic increased in the United States. Ernie Herrman, chief executive officer and president of The TJX Companies, stated, “Excellent sales in its apparel and accessories categories drove Marmaxx to deliver a very strong 7% comp increase, which was its highest quarterly comp of the year.”

The company anticipates EPS of $0.68-0.71 for this quarter, with a $3.35 (up or down 6 cents) forecast for the full year. For the first fiscal quarter and the entire year, analysts anticipated EPS of $3.56 and $0.74, respectively.

In addition, TJX stated that it intends to buy back between $2 billion and $2.5 billion worth of stock during the entire fiscal year 2024.

“Fiscal 2024 is off to a good start, and we remain confident in our ability to increase our profitability this year and achieve our pretax profit margin goal of 10.6% by Fiscal 2025.” We are excited about the coming year and our plans to continue providing customers worldwide with ever-changing selections of great brands and fashions at excellent prices. Herrman continued, “Over the long term, I am confident that we are on track to become an increasingly profitable $60 billion or more company.”

The FQ1 and FY forecasts, according to Vital Knowledge analysts, were “a little bit soft” and “light.”

TJX Companies forecasts revised down

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 83,899.48 0.07%
ethereum
Ethereum (ETH) $ 1,909.28 0.83%
tether
Tether (USDT) $ 1.00 0.00%
xrp
XRP (XRP) $ 2.35 2.41%
bnb
BNB (BNB) $ 602.42 0.94%
solana
Solana (SOL) $ 133.44 0.03%
usd-coin
USDC (USDC) $ 1.00 0.00%
cardano
Cardano (ADA) $ 0.727584 1.70%
dogecoin
Dogecoin (DOGE) $ 0.172059 1.16%
tron
TRON (TRX) $ 0.217722 1.45%
staked-ether
Lido Staked Ether (STETH) $ 1,907.10 0.83%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 83,791.45 0.08%
pi-network
Pi Network (PI) $ 1.49 3.09%
leo-token
LEO Token (LEO) $ 9.74 1.79%
chainlink
Chainlink (LINK) $ 13.98 0.40%
the-open-network
Toncoin (TON) $ 3.41 16.48%
stellar
Stellar (XLM) $ 0.27019 1.27%
usds
USDS (USDS) $ 1.00 0.00%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,285.43 0.96%
hedera-hashgraph
Hedera (HBAR) $ 0.189155 2.09%
avalanche-2
Avalanche (AVAX) $ 19.07 2.92%
shiba-inu
Shiba Inu (SHIB) $ 0.000013 1.25%
sui
Sui (SUI) $ 2.31 1.65%
litecoin
Litecoin (LTC) $ 91.33 2.00%
bitcoin-cash
Bitcoin Cash (BCH) $ 333.92 4.23%
mantra-dao
MANTRA (OM) $ 6.62 1.34%
polkadot
Polkadot (DOT) $ 4.27 0.82%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.02%
bitget-token
Bitget Token (BGB) $ 4.48 1.88%
weth
WETH (WETH) $ 1,910.80 0.70%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.999411 0.10%
hyperliquid
Hyperliquid (HYPE) $ 13.56 5.68%
whitebit
WhiteBIT Coin (WBT) $ 28.81 1.28%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,031.89 0.43%
monero
Monero (XMR) $ 213.18 0.69%
uniswap
Uniswap (UNI) $ 6.19 1.07%
susds
sUSDS (SUSDS) $ 1.04 0.00%
dai
Dai (DAI) $ 0.999785 0.01%
aptos
Aptos (APT) $ 5.26 1.65%
near
NEAR Protocol (NEAR) $ 2.62 0.73%
pepe
Pepe (PEPE) $ 0.000007 1.11%
okb
OKB (OKB) $ 46.36 1.05%
internet-computer
Internet Computer (ICP) $ 5.74 0.51%
ondo-finance
Ondo (ONDO) $ 0.856273 1.22%
ethereum-classic
Ethereum Classic (ETC) $ 17.71 1.28%
mantle
Mantle (MNT) $ 0.791912 7.67%
gatechain-token
Gate (GT) $ 21.57 0.99%
aave
Aave (AAVE) $ 171.06 1.68%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 83,891.48 0.08%
tokenize-xchange
Tokenize Xchange (TKX) $ 29.93 6.70%