TJX Reports Higher Sales and Raises Annual Buyback Target

TJX reported first-quarter results that exceeded analyst estimates for same-store sales growth. Shares of the company rose 6 percent on the day of the announcement. J. Maxx, Marshalls, HomeGoods, Sierra, and stores in Canada, Europe, and Australia. Its model relies on purchasing excess inventory from other brands and retailers at a discount.

1 percent consensus estimate. Growth accelerated from the prior quarter at Marmaxx and HomeGoods divisions. TJX Canada posted 7 percent growth and TJX International posted 4 percent growth. Both segments met or exceeded analyst forecasts. CFO John Klinger said the sales increase came from a higher average basket size and more customer transactions.

1 billion in operating cash flow during the quarter. It returned the same amount to shareholders through dividends and share repurchases. 75 billion to $3 billion. Inventory levels increased 7 percent from a year earlier. Executives attributed the rise to favorable buying opportunities.

Herrman said the current quarter has started well and cited ongoing initiatives to support sales and traffic. 1 billion. The company said fuel-price hedges have helped limit the impact of higher energy costs on its operations.