TJX Companies, Inc. has released third quarter sales and operating results. Net sales were $12.5 billion, an increase of 24% versus the third quarter of Fiscal 2021. Net sales for the third quarter of Fiscal 2022 increased 20% versus the third quarter of Fiscal 2020. Overall open-only comp store sales increased 14% over a 4% increase in the third quarter of Fiscal 2020.
- Q3 FY22 overall open-only comp store sales increased 14% over Q3 FY20
- Q3 FY22 marks the third consecutive quarter that overall open-only comp store sales increased mid-teens or better
- Q3 FY22 net sales were $12.5 billion, an increase of 20% compared to Q3 FY20
- Q3 FY22 total segment profit grew to $1.5 billion, an increase of $285 million, or 23%, compared to Q3 FY20
- Q3 FY22 diluted earnings per share were $.84, a 24% increase compared to earnings per share of $.68 in Q3 FY20
- Returned $1.1 billion to shareholders in the third quarter through share repurchases and dividends
- Increased range for expected full year FY22 share repurchases by $500 million to $1.75 billion to $2.0 billion
- Sales are very strong to start Q4 FY22, with overall open-only comp store sales up mid-teens over Q4 FY20
“I am extremely pleased with the continued strength of our business, with our overall open-only comp store sales up a very strong 14% over Fiscal 2020, and earnings per share of $.84, well above our plan. We saw robust trends throughout the quarter, with comp sales exiting the quarter as strong as the beginning of the quarter. Further, our home businesses across all of our divisions continued their phenomenal performance, and overall apparel open-only comp store sales increased mid-single digits,” said Ernie Herrman, Chief Executive Officer and President of The TJX Companies, Inc.
During the third quarter, the company increased its footprint by 19 stores to a total of 4,684 locations and increased square footage by 0.3% versus the previous quarter.
Source: TJX Press Release
Photo Credit: Deposit Photos
