TJX COMPANIES Reports Second Quarter FY2024 Earnings Results on July 31, 2023
August 31, 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 was a 7.7% and 22.2% increase year-over-year, respectively.
Stock Price
On Wednesday, July 31, 2023, TJX COMPANIES reported its second quarter earnings results for the fiscal year 2024. The company’s stock opened at $88.7 and closed at $89.3, up by 4.1% from its prior closing price of $85.8. The increase in the stock price was largely attributed to the company’s positive earnings report which exceeded expectations. The company also reported that same-store sales increased by 8%, indicating the company’s growth in the market despite the current economic conditions.
The company also announced plans to open additional stores in the coming quarters, which is expected to further bolster its growth. Overall, TJX COMPANIES reported strong earnings results for the second quarter of FY2024 and investors responded positively to the news. The company is expected to continue its growth throughout the rest of the fiscal year and beyond. Live Quote…
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% |
Analysis
At GoodWhale, we have conducted an analysis of TJX COMPANIES‘s financials. We have rated the company using our Star Chart, and it performed strongly in terms of asset, dividend, and profitability and moderately in terms of growth. On that basis, we have classified the company as a ‘gorilla’, which is a type of company that has achieved stable and high revenue or earning growth due to its strong competitive advantage. Given its strong performance in the areas mentioned above, we believe that TJX COMPANIES would be of particular interest to investors looking for long-term investments with minimal risk. This is further bolstered by its high health score of 8/10 with regards to its cashflows and debt, indicating that it is capable of safely riding out any crisis without the risk of bankruptcy. More…
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 reported strong growth in Q2 FY2024, with total revenue increasing 7.7% YOY and net income rising 22.2%. In response to the results, the stock price rose on the day of the announcement. Additionally, TJX Companies’ financials indicate that it is well-positioned to navigate potential macroeconomic headwinds in the future.
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