The TJX Companies (USA) reported a strong Q4 performance with sales up 6 percent, compared with rivals Walmart and Target, which grew at 2 percent.
The company is very optimistic about 2020.
TJX is “far from finished growing” said CEO Ernie Herrman during an earnings call.
6% Same-store sales growth (TJMaxx and Marshalls US stores); +10% at TJX International stores)
4529 stores (including all brands) - +4% in retail square footage
+ 15% Income rose to $984.8 million in the quarter ended Feb 1, 2020.
+10% Sales reached $12.2 billion for Q4, from $11.1 billion a year ago.
+7% Full year sales were $41.7 billion.
+10% Full year net income reached $3.3 billion, from $2.43 billion last year.
Looking ahead ...
“While the competitive environment is intensifying in off-price … a consumer mindset that remains predisposed to saving money, bodes well.” - Ernie Hermann, CEO