FRAMINGHAM, Mass. – Retail large TJX reported $16.4 billion in gross sales for the 14-week fourth quarter, a rise of 13% over the 13-week quarter final yr. Internet revenue for the quarter was $1.4 billion and diluted earnings per share had been $1.22, up 37% from final yr.
For the total 53-week yr, web gross sales had been $54.2 billion, a rise of 9% from the 52-week fiscal yr 2023. Consolidated comparable retailer gross sales rose 5% for each the quarter and yr.
Within the firm’s HomeGoods section, web gross sales rose 16% for the quarter and 9% for the yr.
“Due to our groups’ wonderful execution of our nice enterprise mannequin, we delivered excellent outcomes on each the highest and backside traces that exceeded our expectations,” stated Ernie Herrman, CEO. “We surpassed $50 billion in annual gross sales, a milestone for our firm. We noticed comp gross sales development at each division pushed by buyer transactions, which underscores our confidence in our skill to realize market share throughout all our geographies. We had a really sturdy end to 2023 and begin the brand new yr ready of energy with the primary quarter off to a very good begin.”
Pretax revenue margin for the quarter was 11.2%, up 2% from final yr. The corporate stated this was above its plan, attributing “the next merchandise margin in addition to expense leverage on the above-plan gross sales.” Larger merchandise margin included a larger-than-expected profit from decrease stock shrink expense, decrease freight prices, decrease markdowns and higher markon.
Pretax revenue margin for the yr was 11%, up 1.7% from final yr. The corporate ended the yr with $5.6 billion in money.
Wanting towards the primary quarter of 2025, the corporate predicts comparable retailer gross sales to rise 2% to three% and pretax revenue margin of round 10.5%. For the total yr 2025, it additionally predicts comparable retailer gross sales to rise 2% to three%, with pretax revenue margin between 10.9% and 11%.
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