The TJX Companies, Inc. Reports Above-Plan Q1 FY19 Comp Sales Growth of 3% and Exceeds EPS Expectations; Updates Full-Year Guidance to Reflect Strong Q1 Results
Net sales increased 12% to $8.7 billion, over last year’s 3% increase
Consolidated comp store sales increased 3%
GAAP diluted EPS of $1.13, compared with $.82 in the prior year
Adjusted diluted EPS of $.96, which excludes a $.17 benefit due to items related to the 2017 Tax Cuts and Jobs Act (primarily the lower U.S. corporate income tax rate), compared with $.82 in the prior year
Adjusted diluted EPS $.09 above the high-end of the Company’s plan primarily due to better than expected operating results of $.05, as well as incremental benefits from mark-to-market gains on inventory hedges of $.02 and share-based compensation of $.02, versus the Company’s original plan
Increased low-end and maintained high-end of full-year Fiscal 2019 GAAP EPS guidance
Raised high-end of full-year adjusted EPS guidance by $.02 to reflect strong first quarter results
Returned $597 million to shareholders in the first quarter through share repurchases and dividends
Increased the Company’s dividend by 25% in the first quarter
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