TJX Companies, Inc. (NYSE:TJX) stock rose Wednesday after the off-price retailer topped quarterly expectations and reiterated confidence in its value-driven model.
The company also flagged a larger share buyback plan and outlined an upcoming dividend hike, pending board approval.
Quarterly Metrics
The company reported fourth-quarter adjusted earnings per share of $1.43, beating the analyst consensus estimate of $1.39. Quarterly sales of $17.74 billion (+9% year over year) outpaced the Street view of $17.37 billion.
TJX Companies reported fourth-quarter consolidated comparable sales growth of 5%, significantly exceeding its internal projections.
Marmaxx (U.S.) sales gained 7%, HomeGoods (U.S.) sales rose 8%, TJX Canada gained 11%, while TJX International jumped 15%.
The company reported a fourth-quarter adjusted pretax profit margin of 12.2%, rising 0.6 percentage points year over year and surpassing its expectations.
“Throughout the year, we …