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The TJX Companies, Inc. (NYSE:TJX) posted better-than-expected sales for its fourth quarter on Wednesday.
TJX Companies posted GAAP earnings of $1.12 per share, in-line with market estimates. The company’s quarterly sales came in at $16.40 billion, versus expectations of $16.21 billion, according to data from Benzinga Pro. The company reported adjusted earnings per share, which excludes an estimated benefit of $0.10 from the extra week in the quarter, of $1.12, in line with the street view of $1.12.
“We surpassed $50 billion in annual sales, a milestone for our company,” said Ernie Herrman, Chief Executive Officer and President of TJX Companies.
TJX also announced its plan to repurchase approximately $2.0 to $2.5 billion of stocks during the fiscal year ending February 1, 2025. The company intends to increase the regular quarterly dividend on its common stock, expected to be declared in April 2024 and payable in June 2024, to 37.5 cents per share. This would represent a 13% increase over the current per share dividend.
TJX said it sees FY25 earnings of $3.94 to $4.02 per share, versus estimates of $4.11 per share. The company expects consolidated comparable store sales gaining 2% to 3%.
TJX shares rose 0.6% to close at $101.10 on Wednesday.
These analysts made changes to their price targets on TJX after the company reported quarterly results.
Posted In: TJX