Home Still Cozy at TJX
December 6, 2013,
Declining to offer details about specific home categories for competitive reasons, company ceo Carol Meyrowitz said, during TJX Companies' earnings call: "Overall, we are very pleased with our total home business in all divisions, especially HomeGoods and HomeSense."
Third quarter results by segment included:
Home fashions sales up 6% at Marmaxx, where overall comps increased 4% and sales were up 7.8% to $4.5 billion;
HomeGoods comp gain of 10%, with a sales increase of 16% to $740 million;
TJX Canada, including Winners, HomeSense and Marshalls, comp increase of 2% and sales growth of 2.2% to $786 million.
Overall company net sales for the third quarter increased 9% to $7.0 billion, and consolidated comparable store sales increased 5% over last year's reported 7% increase.
Net income rose 35% to $623 million, or $.86 per share. Results included a third quarter tax benefit of $.11 per share.
For the first nine months, net sales rose 8% to $19.6 billion, and consolidated comparable store sales were up 3% over last year's reported 8% increase. Net income was up 19.5% to $1.6 billion and diluted earnings per share were $2.14.
The company raised its fiscal year outlook and now expects full year earnings per share to be in the range of $2.91 to $2.94 versus $2.55 in fiscal 2013.