On Wednesday, Shares of TJX Companies Inc (NYSE: TJX) rose 0.25% to $95.15. The stock recorded $94.85 as its minimum price and hit the max level of $95.78, during its most recent trading session. It traded total volume of 1.3M shares lower than the average volume of 3.60M shares.
The TJX Companies, Inc. (TJX), the leading off-price apparel and home fashions retailer in the U.S. and worldwide, recently declared sales and earnings results for the first quarter ended May 5, 2018.
Net sales for the first quarter of Fiscal 2019 increased 12% to $8.70B. Consolidated comparable store sales increased 3% over the comparable period last year ending May 6, 2017. Net income for the first quarter was $716.0M and diluted earnings per share were $1.13. Adjusted diluted earnings per share were $.96, a 17% increase over the prior year’s $.82.
Total inventories as of May 5, 2018, were $4.40B, contrast with $3.70B at the end of the first quarter last year. Consolidated inventories on a per-store basis as of May 5, 2018, counting the distribution centers, but excluding inventory in transit and the Company’s e-commerce businesses, were up 7% on a stated basis (up 6% on a constant currency basis, contrast to a decrease of 7% on a constant currency basis in the prior year). The Company is in an excellent inventory position entering the second quarter and has plenty of liquidity to take advantage of the terrific opportunities it sees in the marketplace for quality, branded merchandise.
During the first quarter, the Company returned a total of $597.0M to shareholders. The Company repurchased a total of $400.0M of TJX stock, retiring 4.90M shares, and paid $197.0M in shareholder dividends. The Company continues to expect to repurchase about $2.5 to $3.00B of TJX stock in Fiscal 2019. The Company may adjust this amount up or down depending on various factors. Moreover, the Company increased its dividend by 25% in the first quarter, marking the 22nd successive year of dividend increases. The Company remains committed to returning cash to its shareholders while continuing to reinvest in the business to support the near- and long-term growth of TJX.
TJX has the market capitalization of $59.62B and its EPS growth ratio for the past five years was 8.90%. The return on assets ratio of the Company was 20.30% while its return on investment ratio stands at 33.00%. Price to sales ratio was 1.62 while 93.50% of the stock was owned by institutional investors.