TJX reports Q1 EPS $1.19, consensus $1.00

Reports Q1 revenue $14.3B, consensus $14.01B. Q1 consolidated comparable sales increased 6%. Ernie Herrman, Chief Executive Officer and President of The TJX (TJX) Companies, Inc., stated, “I am extremely pleased with our first quarter performance. Sales, pretax profit margin, and earnings per share were all well above our plan. Throughout the quarter, our teams around the globe successfully executed on our off-price fundamentals to deliver on our value mission and offer an exciting treasure-hunt shopping experience to customers, every day. All of our divisions delivered strong comparable sales growth and increases in customer transactions. With our above-plan first quarter results, we are raising our sales and profitability guidance for the full year. The second quarter is off to a good start, and we are excited about the initiatives we have planned to keep driving sales and attract consumers to our retail banners. Availability of quality, branded merchandise is outstanding, and we are well-positioned to take advantage of the plentiful buying opportunities we are seeing in the marketplace. Going forward, we are convinced that the flexibility and resiliency of our off-price business model will continue to be a tremendous advantage. We are energized by the opportunities we see to drive sales, continue expanding our global footprint, and capture additional market share around the world for many years to come.”