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. 

 

Snapshot

 

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