TJX Companies Q4 Profit Rises, To Buyback Shares; Boosts Dividend |
| NASDAQ - Feb 22, 2012 |
TJX Companies, Inc. (TJX) on Wednesday reported a 42 percent increase in profit for the fourth quarter from last year. The results reflect higher revenues, an increase in comparable store sales and improved margins. Adjusted earnings met analysts' expectations.
The off-price apparel and home fashions retailer also said it plans to repurchase up to $1.3 billion of its stock and raise the quarterly dividend by 21 percent.
The company's consolidated comparable store sales for the quarter increased 7 percent, amid strong holiday sales. Comparable-store sales or comps is a key retail industry performance metric to gauge activity at store locations that have been open for at least a year.
Looking ahead, the company forecast earnings for the first quarter and fiscal year 2013 in line with analysts' estimates.
The Framingham, Massachusetts-based company's fourth-quarter net income was $475.31 million or $0.62 per share, up from $334.41 million or $0.42 per share in the year-ago period.
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- Posted: 2012-02-22 12:14:30
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