Q417 - Comp back on track
TJX reported adj Q4 EPS of $1.30 (incl 53rd week) vs consensus $1.27, with a comp of 4% ahead of expectations 2.1% - a clear improvement after the Q3 miss. FY18 EPS guidance is set at $4.73 - $4.83, growth of 17-20% YoY, with ~14% of this coming from the lower tax rate. The company announced a one-time bonus to employees as a result of the lower tax, in addition to incremental employment benefits, while also increasing the dividend by 25% and announcing a new $3bn buyback program.TJX Companies is an off-price apparel and home fashions retailer. The company's segments comprised of: Marmaxx, which sells family apparel (including footwear and accessories), home fashions (including home basics, decorative accessories and giftware) and other merchandise; HomeGoods, which provides a range of home fashions, including home fashions, including furniture, rugs, lighting, soft home, decorative accessories, tabletop and cookware as well as pet, kids and gourmet food departments; TJX Canada, which operates the Winners, HomeSense and Marshalls chains in Canada; and TJX International, which operates the T.K. Maxx and HomeSense chains in Europe and the T.K. Maxx chain in Australia.
Formed in 2003 by an established team from Cazenove, one of the most respected investment banks in the UK, Atlantic Equities conducts and publishes fundamental, bottom up research on mid and large cap US companies.
Atlantic provide order execution through a wide range of DMA products and algorithmic trading suites.
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