TJX Cos. reported a 13% increase in holiday sales, exceeding Wall Street’s expectations. The off-price retailer’s strong performance in the fiscal fourth quarter resulted in a net income of $1.4 billion, or $1.22 per share, compared to $1.04 billion, or 89 cents per share, a year earlier. Sales also rose to $16.41 billion, up about 13% from the previous year. Despite this, the company issued guidance that was below Wall Street’s expectations, citing tougher comps in the year ahead and an uncertain growth trajectory. The company’s earnings per share of $1.22 exceeded the expected $1.12, while revenue of $16.41 billion also surpassed the anticipated $16.21 billion. With these results, TJX is gearing up for the challenges and opportunities that lie ahead.
Source: CNBC