Post-Earnings Coverage - TJX Cos

LONDON, August 25, 2014 /PRNewswire/ --

Investor-Edge.com has issued free post-earnings coverage on The TJX Companies Inc. (NYSE: TJX). The company featured in the headlines on Tuesday, August 19, 2014 after reporting results for the second quarter ended August 2, 2014. For Q2 FY15, The TJX Companies Inc.'s net sales rose 7.4% YoY and its adjusted diluted earnings per share increased 14% year-over-year, excluding a debt extinguishment charge of $0.02 per share. Our free coverage report can be accessed at:

http://www.investor-edge.com/register

Earnings Overview  

The TJX Companies Inc.'s Q2 FY15 consolidated comparable store sales grew by 3% over a 4% growth reported a year ago in the same period. The company's adjusted consolidated pretax profit margin for Q2 FY15 came at 12.3% (excluding a 0.3 percentage points debt extinguishment charge), a 0.3 percentage point year-over-year growth, The company's gross profit margin during the reported quarter fell by 0.2 percentage points to 28.6%, primarily due to negative impact of mark-to-market adjustments on hedging instruments and impact of e-commerce on merchandise margins. The free research on TJX can be downloaded as in PDF format at:

http://www.Investor-Edge.com/TJXFreeReport

For the Q2 FY15, the company's selling, general and administrative expenses as a percent of sales stood at 16.2% of sales, down 0.5% percentage points from the year ago quarter. As on August 02, 2014, the company's merchandise inventories were $3.39 billion, compared to $3.19 billion as on August 03, 2013. Meanwhile, cash and cash equivalents balance stood at $2.18 billion as compared to $1.86 billion as on August 03, 2013. During the second quarter 2015, the company repurchased and retired 8.0 million shares of TJX stock worth $440 million and expects to repurchase approximately $1.6-$1.7 billion of TJX stock in FY 2015. The off price apparel and home fashions retailer expects Q3 FY15 diluted earnings per share (EPS) to be in the range of $0.81-0.85, compared to $0.86 per share reported in the year ago comparable quarter. It has also raised its diluted EPS guidance range for FY 2015 to $3.08-$3.16, compared to $2.94 in FY14.

Carol Meyrowitz, Chief Executive Officer of The TJX Companies Inc., said in the recent press release that the adjusted EPS of $0.75 for second quarter of Fiscal 2015 exceeded the company's expectations and the company has witnessed a positive customer traffic momentum throughout the quarter with improved apparel business performance. Mr.  Meyrowitz asserted that the company is off to a solid start in the third quarter of fiscal year 2015 with excellent inventory position and see plentiful opportunities for great brands in the marketplace. Moving forward he stated that the company is raising the bar on marketing campaigns and gift-giving initiatives, bringing about consumers amazing values and deliver another strong year, as the company moves forward on the path to being a $40 billion-plus company. Sign up and read the free analyst's notes on TJX at:

http://www.Investor-Edge.com/TJX-25082014

The Framingham, Massachusetts-based company reported net sales of $6.92 billion in Q2 FY15, compared with net sales of $6.44 billion in the year ago quarter. The company's net income for the second quarter stood at $517.62 million with diluted EPS of $0.73, compared with net income of $479.56 million and diluted EPS of $0.66 in the year ago quarter. Analysts' at Bloomberg expected a net income and diluted EPS of $518.18 million and $0.73, respectively on net sales of $6.92 billion for the second quarter of fiscal year 2015.

Stock Performance    

On the day of the earnings release, Tuesday, August 19, 2014, The TJX Companies Inc.'s shares rallied 8.65% to end the session at $58.56. On the last close, Friday, August 22, 2014, the stock further edged 0.76% higher to end at $59.36. The stock vacillated between $58.97 and $59.47 during the session. A total of 3.77 million shares were traded, which was below its three months average volume of 4.57 million shares. Over the previous three trading sessions and over the last one month, the company's shares have advanced 1.37% and 11.56%, respectively. However, from the beginning of 2014, the stock has fallen by 6.86%. The TJX Companies Inc.'s shares are trading above their 50-day and 200-day moving averages of $54.06 and $58.58, respectively. Furthermore, the stock traded at a PE ratio 20.11 and has a Relative Strength Index (RSI) of 70.31. Visit Investor-Edge and access the latest research on TJX at:

http://www.Investor-Edge.com/TJXEarningsCoverage

Sneak Peek to Corporate Insider Trading  

In the last one month, Carol Meyrowitz, The TJX Co. Inc.'s CEO, and Ernie Herrman, the company's President, have sold a combined total of 169,312 shares, worth $9.99 million at an average price of $59.01. On August 20, 2014, Ms. Meyrowitz and Mr. Herrman sold 156,100 and 13,212 share, respectively. Complimentary in-depth research on TJX is available at:

http://www.Investor-Edge.com/TJXInsiderTrading

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EDITOR'S NOTES:

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1. This is not company news. We are an independent source and our views do not reflect the companies mentioned.

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