LONDON, UK / ACCESSWIRE / June 21, 2018 / If you want access to our free earnings report on The TJX Cos., Inc. (NYSE: TJX) ("TJX"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=TJX. The Company reported its first quarter fiscal 2019 operating and financial results on May 22, 2018. The leading off-price apparel and home fashions retailer outperformed top- and bottom-line expectations. Additionally, the Company provided guidance for the upcoming quarter and fiscal year. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Earnings Highlights and Summary

For the first quarter ended May 05, 2018, TJX's net sales increased 12% to $8.69 billion compared to $7.78 billion in Q1 FY18. The Company's consolidated comparable store sales increased 3% on a y-o-y basis in the reported quarter. TJX's revenue numbers exceeded analysts' estimates of $8.50 billion.

For Q1 FY19, TJX's consolidated pre-tax profit margin was 11.0%, reflecting an increase of 0.3% compared to 10.7% in Q1 FY18.

During Q1 FY19, TJX's gross profit margin was 28.9%, down 0.1% compared to Q1 FY18. The Company's selling, general, and administrative expenses (SG&A) as a percentage of sales were 17.8% in the reported quarter, down 0.3% versus the prior year's comparable quarter, primarily due to expense savings and a one-time gain related to a lease buyout.

TJX's net income was $716.4 million, or $1.13 per diluted share, in Q1 FY19 compared to $536.3 million, or $0.82 per diluted share, in Q1 FY18. The Company's adjusted earnings per share (EPS) were $0.96 in the reported quarter, reflecting an increase of 17% compared to $0.82 in the year ago same period. TJX's earnings surpassed Wall Street's estimates of $1.02 per share.

Inventory

As of May 05, 2018, TJX's total inventories were $4.4 billion compared to $3.7 billion at the end of Q1 FY18. As of May 05, 2018, the Company's consolidated inventories on a per-store basis, including the distribution centers, but excluding inventory in transit and the Company's ecommerce businesses, were up 7% on a reported basis.

Shareholder Distributions

During Q1 FY19, TJX returned a total of $597 million to shareholders. The Company repurchased a total of $400 million of TJX stock, retiring 4.9 million shares, and paid $197 million in shareholder dividends. The Company continues to expect to repurchase approximately $2.5 billion to $3.0 billion of TJX stock in the full fiscal year 2019.

Outlook

For the second quarter of the fiscal year 2019, TJX expects diluted EPS to be in the range of $1.02 to $1.04. Excluding an expected benefit of approximately $0.15 per share due to items related to the 2017 Tax Cuts and Jobs Act, the Company is estimating adjusted EPS to be in the band of $0.87 to $0.89 compared to $0.85 in the year ago corresponding period.

For the full fiscal year 2019, TJX is projecting EPS to be in the range of $4.75 to $4.83, which represents an increase of 18% to 20% compared to EPS of $4.04 in FY18. The Company raised the high-end of its fiscal year 2019 adjusted earnings guidance by $0.02 to reflect its strong first quarter results. The Company is estimating adjusted EPS, excluding the benefit from the Tax Cuts and Jobs Act 2017, to be in the range of $4.04 to $4.10.

Stores by Concept

During the first quarter ended May 05, 2018, the Company increased its store count by 71 stores to a total of 4,141 stores. The Company increased square footage by 5% compared to the same period of last year.

Stock Performance Snapshot

June 20, 2018 - At Wednesday's closing bell, The TJX's stock climbed 1.01%, ending the trading session at $96.72.

Volume traded for the day: 2.63 million shares.

Stock performance in the last month ? up 14.19%; previous three-month period ? up 16.70%; past twelve-month period ? up 37.82%; and year-to-date ? up 26.50%

After yesterday's close, The TJX's market cap was at $60.61 billion.

Price to Earnings (P/E) ratio was at 22.93.

The stock has a dividend yield of 1.61%.

The stock is part of the Services sector, categorized under the Department Stores industry. This sector was up 0.6% at the end of the session.

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