TJX Reports Strong Q1 Earnings with 22% YoY EPS Increase, Raises Full-Year Guidance

May 22, 2024, 11:46 AM

TJX Companies reported strong Q1 fiscal 2025 results, with earnings per share (EPS) of $0.93, surpassing the estimated $0.88 and reflecting a 22% year-over-year increase. Revenue reached $12.48 billion, slightly below the forecasted $12.49 billion but up 6% from the previous year. The company saw a 3% growth in comparable store sales, although this was below the expected 3.7%. Net income rose by 20.1%, driven by robust demand and lower costs. TJX raised its full-year EPS guidance to $4.03-$4.09 from the previous $3.94-$4.02, and its Q2 EPS guidance to $0.88-$0.90. Despite a downbeat outlook on same-store sales, the stock rallied as the profit beat offset concerns. The company's market capitalization stands at $110.65 billion. Evercore ISI reiterated TJX as outperform and named it a top five pick in retail, noting the stock's 24x P/E is 3% below the 3-year average.