TJX COMPANIES Reports 7.7% Increase in Revenue for FY2024 Q2
August 23, 2023
☀️Earnings Overview
TJX COMPANIES ($NYSE:TJX) reported total revenue of USD 12758.0 million and net income of USD 989.0 million for the second quarter of FY2024 ending on July 31 2023. This represents a respective 7.7% and 22.2% year-over-year increase. The results were made public on August 16 2023.
Analysis
GoodWhale has conducted a thorough analysis of TJX COMPANIES‘s fundamentals and have determined that the company is a low risk investment. According to GoodWhale’s Risk Rating, TJX COMPANIES is deemed to have a low risk in terms of financial and business aspects. It is worth noting, however, that GoodWhale has identified 1 risk warning in TJX COMPANIES’ income sheet. If you are interested in understanding this risk in more detail, you can register on goodwhale.com to access the necessary information. Overall, GoodWhale’s analysis of TJX COMPANIES demonstrates that it is a relatively low-risk investment option. This gives potential investors the confidence that their money is in safe hands and that the company will remain profitable in the future. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Tjx Companies. More…
| Total Revenues | Net Income | Net Margin |
| 51.23k | 3.98k | 7.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Tjx Companies. More…
| Operations | Investing | Financing |
| 6.16k | -1.59k | -3.58k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Tjx Companies. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 28.92k | 22.31k | 5.59 |
Key Ratios Snapshot
Some of the financial key ratios for Tjx Companies are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 14.9% | 67.1% | 10.1% |
| FCF Margin | ROE | ROA |
| 8.9% | 50.6% | 11.2% |
Peers
In the retail industry, there is intense competition between TJX Companies Inc and its competitors Ross Stores Inc, Destination Maternity Corp, and United Arrows Ltd. This is due to the fact that each company is vying for the same consumers. In order to attract and retain customers, each company must offer competitive prices, a wide variety of merchandise, and excellent customer service.
– Ross Stores Inc ($NASDAQ:ROST)
Ross Stores is an American chain of off-price department stores headquartered in Dublin, California, founded in 1957 by Morris Ross. The company operates 1,378 Ross Dress for Less locations and 122 dd’s Discounts locations in 37 states, the District of Columbia and Guam. Ross Stores Inc has a market cap of 29.23B as of 2022, a Return on Equity of 30.69%. Ross Stores is an American chain of off-price department stores headquartered in Dublin, California, founded in 1957 by Morris Ross. The company operates 1,378 Ross Dress for Less locations and 122 dd’s Discounts locations in 37 states, the District of Columbia and Guam. Ross Dress for Less offers first-quality, in-season, name brand and designer apparel, accessories, footwear and home fashions for the entire family at every day savings of 20% to 60% off department and specialty store regular prices. dd’s Discounts is designed to offer brand-name apparel, accessories, footwear and home fashions for the entire family at 20% to 70% off moderate department and discount store prices every day.
– Destination Maternity Corp ($OTCPK:DESTQ)
Destination Maternity Corporation is an international retailer of maternity apparel, selling its products under the Destination Maternity®, Motherhood Maternity®, A Pea in the Pod® and Destination Baby® brands. The Company also operates ecommerce websites, destinationmaternity.com in the United States, motherhood.com and apeainthepod.com. As of October 28, 2017, Destination Maternity operated 1,944 retail locations, including 512 stores in the United States, Puerto Rico and Canada, and 1,432 leased department locations. The Company’s retail locations are located in the United States, Puerto Rico, Canada and the United Kingdom.
– United Arrows Ltd ($TSE:7606)
United Arrows Ltd is a Japanese fashion retailer. The company was founded in 1989 and is headquartered in Tokyo, Japan. United Arrows Ltd has a market cap of 58.64B as of 2022, a Return on Equity of 9.39%. The company operates over 800 stores across Japan and also has a presence in Hong Kong, China, and Taiwan. United Arrows Ltd offers a wide range of products including men’s and women’s clothing, accessories, and beauty products. The company has a strong focus on quality and design, and its products are popular among Japanese consumers.
Summary
TJX Companies recently reported strong financial results for the second quarter of FY2024, ending July 31 2023. Total revenue increased 7.7% year-over-year to USD 12758.0 million, while net income grew 22.2% to USD 989.0 million. In response to these positive numbers, investors pushed the stock price up the same day.
Analysts expect that TJX Companies will be able to continue its impressive growth, as its strategy of offering discounted merchandise to cost-conscious shoppers appears to remain successful. As such, investors may find TJX Companies an attractive investment opportunity in the near future.
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