WASHINGTON (dpa-AFX) - TJX Companies, Inc. (TJX), an off-price apparel and home fashions retailer, reported Wednesday higher profit and comparable sales in its fourth quarter. Further, the firm issued first quarter and fiscal 2027 outlook, expecting earnings and comps growth in full year.
TJX also announced its plan to repurchase approximately $2.50 billion to $2.75 billion of stock in fiscal 2027.
In pre-market activity, the shares were losing around 0.62 percent, trading at $156.72.
Looking ahead for the first quarter of fiscal 2027, the company projects earnings per share to be in the range of $0.97 to $0.99 and consolidated comparable sales growth of 2 percent to 3 percent.
Further, for fiscal 2027, the company projects earnings per share in the range of $4.93 to $5.02, with consolidated comparable sales growth of 2 percent to 3 percent.
In fiscal 2026, earnings per share were $4.87, and adjusted earnings per share were $4.73, on consolidated comparable sales growth of 5 percent.
Further, the firm announced that it intends to increase the regular quarterly dividend to $0.48 per share, expected to be declared in March 2026 and payable in June 2026, subject to the approval of the Board of Directors. This would represent a 13 percent increase over the most recent per share dividend.
TJX also announced its plan to repurchase around $2.50 billion to $2.75 billion of stock during the fiscal year ending January 30, 2027. With $1.1 billion remaining at fiscal 2026 year, the company's Board approved the program that authorizes the repurchase of up to an additional $3.0 billion of TJX stock from time to time.
The new authorization represents approximately 1.8 percent of the Company's outstanding shares at current prices.
In the fourth quarter, net income was $1.77 billion or $1.58 per share, up 28 percent from $1.40 billion or $1.23 per share last year.
The latest results were benefited by a net benefit of $0.15 from the litigation settlement and related expenses.
Adjusted earnings per share for the fourth quarter were $1.43, up 16 percent versus the prior year.
Net sales for the fourth quarter grew 9 percent to $17.74 billion from prior year's $16.35 billion. Consolidated comparable sales for the quarter increased 5 percent.
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