TJX net sales up 4% to $56bn

The TJX Companies has revealed that its net sales rose 4% to $56bn (44.4bn) for the year ended 1 February 2025. Its TJX International business, which incorporates Europe and Australia, posted net sales of $7.2bn for the full year, an increase of 6%. Furthermore, the company’s net income was $4.9bn (£3.89bn) and its diluted earnings per share were $4.26 (£3.38). Alongside this, the company posted net sales of $16.4bn (£13bn) in the 13 weeks ended 1 February 2025, which was flat compared to the 14 week Q4 in the previous year. Net sales in Europe and Australia fell 1% to $2bn (£1.59bn) again with the caveat that the period was one week shorter than the previous year. The company’s Q4 pre-tax profit margin was 11.6%, up 0.4 percentage points versus last year’s 14-week fourth quarter pretax profit margin of 11.2%. Its pre-tax profit margin was above the high-end of its plan by 0.7 percentage points, primarily driven by lower than expected inventory shrink expense. Overall the company’s pre-tax profit margin was 11.5%, up 0.5 percentage points versus last year’s 53-week pretax profit margin of 11.0%. For the full year FY26, the company now expects its consolidated comparable store sales to be up 2% to 3%. Moreover, the company expects its pre-tax profit margin to be in the range of 11.3% to 11.4%, down 0.1 to 0.2 percentage points versus the prior year’s 11.5%. Ernie Herrman, CEO and President of The TJX Companies, said: “I am very proud of the performance of our hard-working Associates in 2024. We delivered outstanding top-and bottom-line results that exceeded our guidance for the year. We surpassed $56bn in annual sales, drove a 4% comparable store sales increase, significantly increased profitability, and opened our 5,000th store during the year. “Further, each of our divisions saw strong, consistent full year comp store sales growth of 4% or above. Our fourth quarter sales, profitability, and earnings per share were all well above our expectations. I am particularly pleased that our overall comp store sales growth of 5% for the quarter was due to strong increases in comp sales and customer transactions at every division.” He added: “Throughout the year, we offered our wide range of customers compelling values on good, better, and best brands and on-point fashions, and an exciting treasure-hunt shopping experience. “As we begin a new year, we are confident that remaining focused on the off-price fundamentals of our great company will continue to serve us well, as it has over many decades, and as always, we will strive to beat our plans. Longer term, we see many opportunities to successfully grow our business and deliver value to even more consumers around the world.”

TJX net sales up 4% to $56bn

TJX Europe is the parent company of TK Maxx and Homesense in the UK and Ireland

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Today’s news in brief-28/2/25

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