The TJX Companies, Inc. (TJX) has reported a 5.51 percent rise in profit for the quarter ended Apr. 29, 2017. The company has earned $536.30 million, or $0.82 a share in the quarter, compared with $508.30 million, or $0.76 a share for the same period last year.
Revenue during the quarter grew 3.20 percent to $7,784.02 million from $7,542.36 million in the previous year period. Gross margin for the quarter expanded 18 basis points over the previous year period to 28.96 percent. Total expenses were 89.18 percent of quarterly revenues, up from 88.93 percent for the same period last year. That has resulted in a contraction of 25 basis points in operating margin to 10.82 percent.
Operating income for the quarter was $842.35 million, compared with $835.16 million in the previous year period.
Ernie Herrman, Chief Executive Officer and President of The TJX Companies, Inc., stated, "For the first quarter, consolidated comparable store sales were up 1% over last year’s strong 7% increase and at the high end of our plan. Earnings per share were $.82 and above our plan. Comp store sales growth was once again driven by customer traffic. We achieved these results despite the unfavorable weather in parts of the U.S. and Canada compared to last year. We were pleased to see sales trends pick up as the quarter progressed.
For financial year 2018, The TJX Companies, Inc. projects diluted earnings per share to be in the range of $3.82 to $3.89. The company projects diluted earnings per share to be in the range of $3.71 to $3.78 on adjusted basis.
For the second-quarter, the company projects diluted earnings per share to be in the range of $0.81 to $0.83 .
Operating cash flow remains almost stable
The TJX Companies, Inc. has generated cash of $448.40 million from operating activities during the quarter, up 0.72 percent or $3.20 million, when compared with the last year period.
The company has spent $201.70 million cash to meet investing activities during the quarter as against cash outgo of $289.10 million in the last year period.
The company has spent $484.10 million cash to carry out financing activities during the quarter as against cash outgo of $404.40 million in the last year period.
Cash and cash equivalents stood at $2,669.50 million as on Apr. 29, 2017, up 37.31 percent or $725.30 million from $1,944.20 million on Apr. 30, 2016.
Debt increases substantially
The TJX Companies, Inc. has witnessed an increase in total debt over the last one year. It stood at $2,228.40 million as on Apr. 29, 2017, up 37.94 percent or $612.90 million from $1,615.50 million on Apr. 30, 2016. Tjx Companies has witnessed an increase in long-term debt over the last one year. It stood at $2,228.40 million as on Apr. 29, 2017, up 37.94 percent or $612.90 million from $1,615.50 million on Apr. 30, 2016.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
