TJX operate over 5,000 stores across nine countries, including TJ Maxx, Marshalls and HomeGood. Credit: Helen89/Shutterstock.

TJX, the parent company of TK Maxx and TJ Maxx, saw comp sales increases in both its apparel and home categories this quarter (Q3).  

In the earnings call, TJX CEO and president Ernie Herrman highlighted the European team’s efforts in driving the 7% comp increase at the TJX International division.   

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Based on this, the retailer expects pretax profit margin for the fourth quarter of the fiscal to be in the range of 10.8% to 10.9% and diluted EPS in the range of $1.12 to $1.14.  

TJX also expects full year pretax profit margin to be 11.3% and diluted EPS to be in the range of $4.15 to $4.17. 

A strong Q3 for TJX

For the quarter ending 2 November 2024, TJX’s net sales reached $14.06bn, up 6% from $13.26bn in the same period last year.  

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Net income stood at $1.29bn in Q3 FY25, climbing from $1.19bn in Q3 FY24. 

TJX’s diluted EPS for the third quarter was $1.14, marking an 11% increase from $1.03 in the previous fiscal year’s third quarter. The company’s pretax profit margin for Q3 FY25 was 12.3%, a slight improvement from the 12.0% recorded last year. 

In terms of profitability, Herrman noted that both pre-tax profit margin and earnings per share significantly surpassed our projections. 

Gross profit margin also saw an uptick, reaching 31.6%, which was primarily attributed to an enhanced merchandise margin.  

For the first nine months of FY25, TJX has seen a 6% increase in net sales compared to the same period last year. The diluted EPS for this period is $3.03, representing a 14% boost from $2.65 in the first nine months of FY24. 

Herrman said: “I am very pleased with our third quarter results and the strong execution of our off-price business fundamentals by our teams.  

“With our above-plan profitability results in the third quarter, we are raising our full year guidance for pretax profit margin and earnings per share. The fourth quarter is off to a strong start, and we are excited about our opportunities for the holiday selling season.  

“In stores and online, we are offering consumers an ever-changing and inspiring shopping destination for gifts at excellent values and feel confident that there will be something for everyone when they shop us. Going forward, we continue to see great potential to successfully grow TJX around the globe well into the future.”