TJX reports Q3 EPS $1.03, consensus 99c

Reports Q3 revenue $13.27B, consensus $13.08B. Q3 overall comparable store sales increased 6%. Comparable store sales increased 7% at Marmaxx and increased 9% at HomeGoods in Q3. Ernie Herrman, CEO and president of The TJX Companies, Inc., stated, “I am extremely pleased with our third quarter performance and strong execution of our teams as our comp store sales, pretax profit margin, and earnings per share all exceeded our expectations. I am particularly pleased with the results at our Marmaxx and HomeGoods divisions, which delivered terrific comp sales increases entirely driven by customer traffic. Customer traffic was up across all divisions, our overall apparel sales remained very strong, and home sales were outstanding and accelerated sequentially versus the second quarter. Across our geographies and wide customer demographic, our values and exciting, treasure-hunt shopping experience continued to resonate with consumers. With our above-plan results in the third quarter, we are raising our full year guidance for comp store sales and earnings per share. The fourth quarter is off to a strong start, and we are pursuing the plentiful deals we are seeing for great brands and great fashions in the marketplace. We are strongly positioned as a shopping destination for gifts this holiday selling season and are convinced that our values and fresh shipments to our stores and online throughout the season will be a major draw again this year. Going forward, we continue to see excellent opportunities to grow sales and customer traffic, capture market share, and drive the profitability of our Company.”