The TJX Companies, Inc. Provides Earnings Guidance for the First Quarter and Full Year of Fiscal 2023
February 23, 2022 at 07:30 am EST
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The TJX Companies, Inc. provided earnings guidance for the first quarter and full year of Fiscal 2023. For the first quarter of Fiscal 2023, the company is planning U.S. comparable store sales to be up 1% to 3% over an outsized 17% U.S. open-only comp store sales increase in the first quarter of Fiscal 2022. The company is very pleased with its strong U.S. comparable store sales growth (defined below) to start the first quarter of Fiscal 2023. The Company's first quarter Fiscal 2023 U.S. comparable store sales outlook takes into account the cadence of U.S. open-only comp stores sales growth in the first quarter of Fiscal 2022, which was up low to mid-single digits to start the quarter and then accelerated to a 20%-plus increase in March and April combined. For the first quarter of Fiscal 2023, the Company expects diluted earnings per share to be in the range of $0.58 to $0.61 versus earnings per share of $0.44 in the prior year.
For the full year Fiscal 2023, the Company is planning U.S. comparable store sales to be up 3% to 4% over an outsized 17% U.S. open-only comp store sales increase in Fiscal 2022. At this time, the Company is not providing full year Fiscal 2023 diluted earnings per share guidance given the current uncertainty around how long elevated expense pressures may persist.
The TJX Companies, Inc. is No. 1 in America of discount retail distribution of clothing and household items. Net sales break down by family of products as follows:
- apparel and accessories (46%);
- home goods (39%): home furnishings, lamps, rugs decorative accessories, etc.;
- jewelery and accessories (15%).
At 30/01/2021, the group had a network of 4,572 stores located in the United States (3,305, of which 1,271 T.J. Maxx, 1,131 Marshalls, 821 HomeGoods, 48 Sierra and 34 Homesense), Canada (525, of which 280 Winners, 143 HomeSense and 102 Marshalls), Europe and Australia (742, of which 602 T.K. Maxx, 78 HomeSense and 62 Trade Secret).
Net sales are distributed geographically as follows: the United States (79.2%), Europe and Australia (12%) and Canada (8.8%).
THE TJX COMPANIES 
