TJX COMPANIES Reports Q3 FY2024 Earnings with 9.0% Y-o-Y Revenue Increase and 12.3% Y-o-Y Net Income Rise
November 29, 2023
☀️Earnings Overview
For Q3 FY2024, TJX COMPANIES ($NYSE:TJX) reported total revenue of USD 13.3 billion, a 9.0% year-on-year increase, and net income of USD 1.2 billion, a year-on-year increase of 12.3%. The earnings results were reported on October 31, 2023.
Analysis
GoodWhale recently made an analysis of TJX COMPANIES‘s fundamentals and Star Chart gave it a strong rating in asset, dividend, profitability, and medium in growth. Furthermore, TJX COMPANIES has a high health score of 8/10 indicating that the company has strong cashflows and debt, which implies that it is capable to safely ride out any crisis without the risk of bankruptcy. Based on this analysis, GoodWhale classified TJX COMPANIES as a ‘gorilla’, a type of company that achieved stable and high revenue or earning growth due to its strong competitive advantage. Given this analysis, investors who are looking for strong companies with a competitive edge that can survive any crisis are likely to be interested in investing in TJX COMPANIES. These include long-term investors seeking a stable return on their investments, as well as those who are looking to benefit from the growth potential offered by such companies. 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 |
| 52.33k | 4.11k | 7.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Tjx Companies. More…
| Operations | Investing | Financing |
| 6.28k | -1.64k | -3.71k |
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 |
| 30.35k | 23.52k | 5.78 |
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 |
| 16.1% | 72.1% | 10.3% |
| FCF Margin | ROE | ROA |
| 8.9% | 50.8% | 11.1% |
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
On October 31, 2023, TJX Companies reported its Q3 FY2024 earnings results. The company reported total revenue of USD 13.3 billion, an increase of 9.0% year-on-year, and net income of USD 1.2 billion, a 12.3% year-on-year rise. Despite the healthy financial performance in the quarter, the company’s stock price saw a decline on the same day.
Investors should consider whether this drop could be attributed to any short-term factors or reflect an underlying trend. It is important to consider the company’s long-term prospects and the broader investment environment before investing in TJX Companies.
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