TJX Posts Solid Comp Sales in Nov - Analyst Blog
05 12월 2012 - 6:30PM
Zacks
Consolidated same-store sales at The TJX Companies
Inc. (TJX), an off-price retailer of apparel and home
fashions, climbed 3.0% year over year in the four-week period ended
November 24, 2012. As for total sales, it climbed 7.0% year over
year for the aforementioned period to $2.2 billion. Comparable
sales jumped once again on the back of higher customer traffic.
Robust sales in the Thanksgiving week also provided a boost.
As for the 43-week period ended November 24, 2012, comparable
sales climbed 7% from the year-ago period. Total sales for the same
period went up 10.0% year over year to $20.3 billion.
Further, this leading off-price retailer experienced 11.0%
increase in total net sales to $6.41 billion in the third quarter
of 2013, driven by solid growth in consolidated comparable store
sales of 7.0%. Comparable store sales exceeded management’s
expectations of 2% to 4% on the back of strong performance at all
the stores in the U.S., Canada and Europe. Further, well-chosen
stocks at the stores improved customer traffic during the
period.
Guidance
The company expects the upcoming holiday season to fuel December
comparable store sales.
Moreover, the company raised its consolidated comparable store
sales growth expectation to a range of 5% to 6% for fiscal 2013, up
from the previous guidance of 4% to 5%. Consolidated comparable
store sales are expected in the range of flat to 2% for the fourth
quarter of fiscal 2013.
Our Recommendation
Over the long-term, the stock has a Neutral recommendation.
Currently, TJX carries a Zacks #2 Rank (short-term Buy rating) as
it posted decent third quarter results and has been reporting an
increase in comparable store sales for the past several quarters,
driven by higher demand and increased consumer traffic. However,
its close competitor, Kohl's Corporation (KSS)
carries a Zacks #3 Rank (short-term Hold rating) and posted a
decline in comparable store sales and total sales for the month of
November.
KOHLS CORP (KSS): Free Stock Analysis Report
TJX COS INC NEW (TJX): Free Stock Analysis Report
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