TJX Comps Down but Expect to Improve - Analyst Blog
2013年4月16日 - 3:40AM
Zacks
Consolidated same-store sales at
The TJX Companies Inc. (TJX), an off-price
retailer of apparel and home fashions, descended 2% year over year
in the five-week period ended Apr 6, 2013. Comparable store sales
in the period were within the guidance provided by management.
Total sales climbed 5% for the
aforementioned period to $2.4 billion. The modest growth is
attributable to the early Easter coupled with the unusually cold
weather across the U.S., Canada and Europe.
However, comparable store sales
climbed in regions where the weather was warmer. Moreover, the cold
weather gave the usual boost to the home category, while the
apparel section suffered. Management also noted that
sales picked up at the end of Mar, as weather improved, and the
company has started Apr with a good momentum and an excellent
inventory.
In the U.S. Division of The Marmaxx
group, comp sales slipped 3%. A strong 7% gain in home fashions
comps were offset by a 5% decline in apparel comps. While West
Coast reported a comp increase in mid-single digits, Florida and
the Southwest outperformed the chain with positive comps.
TJX Canada, however, was negatively
affected by winter storms and reported a slip of 5% in same-store
sales during the month. TJX Europe continues to report flat comp
sales compared with the year-ago period.
Although cold weather affected most
retailers, Limited Brands Inc. (LTD) and
Ross Stores (ROST) reported sales ahead of view
with comp gains of 3% and 2% respectively. However, Costco
Wholesale Corp. (COST) reported the highest comp gain of
4%.
Guidance
For the first quarter of 2014, the company expects earnings per
share between 60 cents and 62 cents compared with the earlier
guidance range of 59 cents to 62 cents.
Headquartered in Framingham, Mass.,
TJX is an off-price apparel and home fashions retailer operating in
the U.S. and internationally. The company operates its stores under
the T.J. Maxx, Marshalls, Winners, HomeSense, HomeGoods, and T.K.
Maxx trademarks. It currently carries a Zacks Rank #3 (Hold).
COSTCO WHOLE CP (COST): Free Stock Analysis Report
L BRANDS INC (LTD): Free Stock Analysis Report
ROSS STORES (ROST): Free Stock Analysis Report
TJX COS INC NEW (TJX): Free Stock Analysis Report
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