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TJX Companies declares quarterly dividend of $.175/ share
13
Dec '14
The TJX Companies, Inc, a off price retailer of apparel and home fashions, has announced that the Company’s Board of Directors has approved a quarterly dividend for holders of the Company’s common shares in the amount of $.175 per common share. The dividend will be paid on March 5, 2015 to shareholders of record at the close of business on February 12, 2015.

TJX has recently announced sales and earnings results for the third quarter ended November 1, 2014. According to reports, net sales for the third quarter of fiscal 2015, increased 6 per cent year-on-year to $7.4 billion, while comparable store sales increased 2 per cent over last year’s 5 per cent hike.

Net income for the third quarter of fiscal 2015 which includes a tax benefit of $.11 per share reached $595 million and diluted earnings per share were $.85 as against last year’s $.86 per share.

TJX posted consolidated pretax profit margin of 13.0 per cent for the reporting quarter, up 0.4 percentage points over a strong increase in the prior year third quarter.

The gross profit margin for the third quarter of fiscal 2015 was 29.4 per cent, a very marginal hike of just 0.1 percentage points versus strong growth in the year earlier quarter.

During the third quarter, the Company repurchased a total of $448 million of TJX stock, retiring 7.5 million shares.

For the first nine months of fiscal 2015, the retailer spent a total of $1.2 billion in repurchases of TJX stock, retiring 21.5 million shares, as per reports.

As of November 1, 2014, the end of the Company’s third quarter, TJX operated a total of 3,385 stores in six countries, the United States, Canada, the United Kingdom, Ireland, Germany, and Poland, and three e-commerce sites. (GK)

Fibre2fashion News Desk - India

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