TJX Q1 Earnings Rise
TJX saw earnings rise in its first fiscal quarter, according to its just-released earnings report. Net sales for the parent company of Marshalls, T.J. Maxx, and HomeGoods were $6.2 billion, up from the $5.8 billion in the same period the previous year. Net profit saw an 8% rise, to $453 million ($0.62 per diluted share) from Q1 2013's result of $419 million ($0.55).
In terms of operational metrics, TJX's same-store sales advanced by 2% on a year-over-year basis during the quarter. That figure was 8% in Q1 2013.
TJX also provided forward guidance. For its current Q2 2014, the company believes its same-store sales will rise 2%-3%, resulting in EPS of $0.61-$0.63, compared with Q2 2013's $0.56. For the entirety of fiscal 2014, EPS is projected to come in at $2.70-$2.78, against fiscal 2013's $2.47.
The article TJX Q1 Earnings Rise originally appeared on Fool.com.Fool contributor Eric Volkman has no position in TJX. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.