TJX Swings to Profit as Sales More Than Double
19 5월 2021 - 9:57PM
Dow Jones News
By Allison Prang
TJX Cos. swung to a profit and reported that sales more than
doubled from a year ago, but said it thinks it lost out on more
than $1 billion in sales because of stores being closed.
The retailer's first-quarter net income was $533.9 million
compared with a loss of $887.5 million in the prior-year quarter.
Earnings were 44 cents a share and compare with a loss a year
earlier of 74 cents a share. According to FactSet, analysts were
expecting earnings of 31 cents a share.
Sales were $10.09 billion, up from $4.41 billion a year ago.
Analysts were expecting $8.61 billion.
The company said for stores that are open, comparable-store
sales rose 16%. That measure is similar so far for the start of the
second quarter, the company said.
TJX said some stores were closed for about 14% of the quarter
because of the Covid-19 pandemic. It expects closures led to $1.1
billion to $1.2 billion in lost sales and negatively impacted
earnings by 21 cents to 24 cents a share. Stores in the U.S. were
open for the three-month period.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
May 19, 2021 08:42 ET (12:42 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
TJX Companies (NYSE:TJX)
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TJX Companies (NYSE:TJX)
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