TJX Companies Inc (NYSE:TJX)
$ 118.22 0.37 (0.31%) Market Cap: 133.34 Bil Enterprise Value: 140.32 Bil PE Ratio: 28.56 PB Ratio: 17.13 GF Score: 0/100
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Q1 2025 TJX Companies Inc Earnings Call Transcript

May 22, 2024 / 03:00PM GMT
Release Date Price: $101.12 (+3.50%)

Key Points

Positve
  • Comp store sales increased by 3%, driven entirely by customer transactions.
  • Pretax profit margin was 11.1%, up 80 basis points, exceeding expectations.
  • Gross margin improved by 110 basis points due to lower freight costs and favorable mark-on.
  • Diluted earnings per share increased by 22%, surpassing the company's plan.
  • Strong performance in international divisions, with comp store sales up 4% in Canada and 2% in Europe and Australia.
Negative
  • SG&A expenses increased by 20 basis points due to higher store wage and payroll costs.
  • Impact of unfavorable weather on sales in certain regions.
  • Freight costs, while lower, are expected to remain sticky due to structural changes in the logistics industry.
  • The promotional environment remains competitive, with some retailers lowering prices.
  • Inventory levels at distribution centers were down 5%, indicating potential supply chain challenges.
Operator

Ladies and gentlemen, thank you for standing by. Welcome to the TJX Companies First Quarter Fiscal 2025 Financial Results Conference Call. (Operator Instructions) As a reminder, this conference call is being recorded, May 22, 2024. The I would like to turn the conference call over to Mr. Ernie Herrman, Chief Executive Officer and President of TJX Companies, Inc. Please go ahead, sir.

Ernie L. Herrman
The TJX Companies, Inc. - CEO, President & Director

Thanks, Cordi. Before we begin, Deb has some opening comments.

Debra McConnell
The TJX Companies, Inc. - SVP of Global Communications

Thank you, Ernie, and good morning. Today's call is being recorded and includes forward-looking statements about our results and plans. These statements are subject to risks and uncertainties that could cause the actual results to vary materially from these statements, including, among others, the factors identified in our filings with the SEC.

Please review our press release for a cautionary statement regarding forward

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