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TJX Companies earnings rise on higher sales in Q2

16 Aug '06

3 min read

During the second quarter, the company spent a total of $204 million to repurchase TJX stock, retiring 8.7 million shares. Year-to-date, it has spent a total of $381 million to repurchase TJX stock and has retired a total of 15.9 million shares. It remains the company's plan to repurchase a total of $650 million of TJX stock in fiscal 2007.

For the third quarter of fiscal 2007, it expects earnings per share in the range of $.39 to $.41, an estimated increase of 22% to 28% over $.32 per share on a reported basis in the prior year. Last year's third quarter earnings per share results were reduced by a net $.02 due to several one-time items, detailed in the company's fiscal 2006 Form 10-K.

For the fiscal year ended January 27th 2007, with above-plan earnings per share during the first half of the year, it now expects earnings per share in the range of $1.49 to $1.53 as compared to $1.41 on a reported basis in the prior year; a 6% to 9% estimated increase. During the second quarter, it added a total of 15 stores. It increased square footage by 7% over the same period last year.

The TJX Companies Inc is the leading off-price retailer of apparel and home fashions in the US and worldwide.

TJX Companies Inc

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