For the quarter ended Oct. 27, the parent company of T.J.Maxx and Marshalls posted net income of $461.6 million, or 62 cents a share, up from $406.5 million, or 53 cents a share, a year earlier.
Net sales for the quarter rose 11% to $6.41 billion. Gross margin expanded to 28.8% from 28.1%.
TJX’ results beat analysts’ estimates for earnings of 61 cents a share on sales of $6.39 billion.
Comparable store sales rose 7% on top of a 3% increase a year ago. In its Marmaxx division, which includes T.J. Maxx and Marshalls, comparable store sales were up 7% while its HomeGoods division saw a 6% comp store increase. TJX Canada also posted a 4% increase in comp sales while TJX Europe had an 11% comp store jump.
Increases Across All Divisions
Total inventories as of Oct. 27 fell to $3.3 billion from $3.7 billion a year earlier.
Noting that comparable store sales and earnings exceeded the company’s original expectations for the quarter, Carol Meyrowitz, chief executive, said, “Customer traffic was up at all divisions in the U.S., Canada and Europe and drove the comparable store sales increases, which we believe is a great indicator of the staying power of our value proposition on exciting fashions and brands. At this time, we are raising our full-year guidance.”
For the full year, TJX is now expecting $2.45 to $2.48 a share, a penny higher than previous estimates. In its fourth quarter, which includes crucial holiday selling, TJX expects earnings of 72 to 75 cents a share on flat to a 2% increase in comparable store sales.
Although the off-price retailer increases its forecast, it still came in below analysts’ average estimate, which expects $2.49 a share for the year, and 76 cents a share for fourth quarter.
“TJX’s momentum should continue as TJX continues to attract new customers and margins should expand as Europe continues to improve,” Lazard Capital Markets analyst Jennifer Davis wrote today in a research note.
For commercial purposes, extract supplements can be obtained from the fruit of the pericarp. Garcinia cambogia reviews is performed by a physician Chen and Oz to prove that it is an herb for weight loss, a lot of research has been done. Studies, Garcinia cambogia extract supplementation decreases the weight of the body fat accumulation, was shown to have a positive effect on prevention. We are important substances such as cholesterol (LDL), reduces the serum leptin and triglycerides. In addition, it will increase the level of serotonin and cholesterol (HDL). The study also, Garcinia cambogia extract supplements, has proven that there are no significant adverse effects on many of the eight weeks, such as its use.