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TJX Companies same-store sales increase 14 percent over Q320

By Prachi Singh

Nov 17, 2021

The TJX Companies, Inc. net sales for the third quarter of fiscal 2022 were 12.5 billion dollars, an increase of 24 percent versus the third quarter of fiscal 2021 and 20 percent versus the third quarter of fiscal 2020. Overall open-only comp store sales increased 14 percent over a 4 percent increase in the third quarter of fiscal 2020.

Net income for the third quarter was 1 billion dollars and diluted earnings per share were 84 cents, a 24 percent increase over 68 cents per share in the third quarter of fiscal 2020.

The company said in a release that for the start of the fourth quarter, overall open-only comp store sales growth is up mid-teens over the fourth quarter of fiscal 2020.

Commenting on the company’s performance, Ernie Herrman, chief executive officer and President of The TJX Companies, Inc., stated: “I am extremely pleased with the continued strength of our business, with our overall open-only comp store sales up a very strong 14 percent over fiscal 2020, and earnings per share of 84 cents, well above our plan. We are extremely well-positioned for the holiday selling season, and overall open-only comp store sales to start the fourth quarter are up mid-teens.”

TJX Companies first nine months sales increase 64 percent

For the first nine months of fiscal 2022, net sales were 34.7 billion dollars, an increase of 64 percent versus the first nine months of fiscal 2021 and up 18 percent versus the first nine months of fiscal 2020.

Open-only comp store sales increased 17 percent compared to the first nine months of fiscal 2020.

Net income for the first nine months was 2.3 billion dollars and diluted earnings per share were 1.92 dollars.

During the third quarter ended October 30, 2021, the company increased its store count by 19 stores to a total of 4,684 stores.

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