-=TJX (TJX) reported earnings on Wed 28 Feb 2018 (b/o)

TJX beat by $0.03, beats on revs; guides Q1 EPS above consensus; guides FY19 EPS above consensus 

• Reports Q4 (Jan) earnings of $1.30 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus of $1.27; revenues rose 15.8% year/year to $10.96 bln vs the $10.75 bln Capital IQ Consensus. Consolidated comparable store sales on a 13-week basis increased 4% vs. +1-2% guidance, compared to last year's 3% increase. Gross profit margin for the fourth quarter of Fiscal 2018 was 28.4%, up 0.1 percentage point versus the prior year. Excluding a benefit of approximately 0.4 percentage points from the extra week in the Company's Fiscal 2018 calendar, adjusted gross margin was 27.9%, down 0.4 percentage points versus the prior year.
• Co issues upside guidance for Q1, sees EPS of $1.00-1.02 vs. $0.98 Capital IQ Consensus Estimate; comps +1-2%
• Co issues upside guidance for FY19, sees EPS of $4.73-4.83 vs. $4.64 Capital IQ Consensus Estimate; comps +1-2%
• The Company intends to increase the regular quarterly dividend on its common stock to be declared in April 2018 and payable in June 2018 to $.39 per share, subject to the approval of the Company's Board of Directors. This increase would represent a 25% increase in the current per share dividend and mark the 22nd consecutive year that the Company has raised the dividend. Over this period of time, the Company's dividend has grown at a compound annual rate of 23%. The Company also announced today its plan to repurchase approximately $2.5 to $3.0 billion of TJX stock during the fiscal year ending February 2, 2019. With $1.1 billion remaining at Fiscal 2018 year end under the Company's stock repurchase programs, the Company's Board of Directors approved a new stock repurchase program that authorizes the repurchase of up to an additional $3.0 billion of TJX common stock from time to time.