Long-time readers know that we aim to keep you informed of important news about the stocks we cover. That means highlighting developments and plans that promise to bolster investor gains. Here’s one that stands out this month.
A recent dividend payout raise as well as revenues and earnings growth suggest the firm’s prospects are good despite labour shortages and rising freight costs
The stock trades at 23.3 times the company’s 2023 earnings forecast.
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THE TJX COMPANIES (New York symbol TJX; tjx.com) is a leading off-price retailer of clothing, accessories and home fashions. Off-price retailers purchase merchandise at below-wholesale prices and charge less than retail prices.
Through their shares, investors tap a network of stores. In the U.S., TJX operates 1,304 T.J. Maxx locations, 1,189 Marshalls, 901 HomeGoods, 81 Sierra Trading Post outlets and 49 HomeSense locations. In Canada, it has 298 Winners outlets, 152 HomeSense locations and 106 Marshalls stores. TJX also operates in Europe, with 632 TK Maxx and 78 Homesense stores; and in Australia, with 75 TK Maxx outlets.
Overall revenue in the quarter ended April 29, 2023, rose 3.3%, to $11.78 billion from $11.41 billion a year earlier. U.S. comparable same-store sales increased 3.0%. TJX reported earnings per share of $0.76 in the quarter, up 11.8% from $0.68.
TJX raised its quarterly dividend by 12.7% with the June 2023 payment, to $0.3325 from $0.295 a share. The shares yield 1.6%.
The increase was the company’s 26th dividend increase over the last 27 years.
Growth Stocks: Proven formula should sustain ongoing success despite rising costs for TJX
In addition, TJX plans to continue its significant share buyback program, with approximately $2.0 billion to $2.5 billion of repurchases planned for the next year.
Apart from inflation hurting consumer confidence, like most retailers, TJX faces challenges from labour shortages and rising freight costs. But with its successful discount formula, its outlook is positive.
That’s because rather than shifting online in a major way, the company will stick with its successful formula. To find attractive deals for its customers, it depends heavily on the skills of its merchandise buyers, many of whom have been with the company for decades. TJX stores then quickly turn over limited quantities of products—all sold at bargain prices.
The result is an ongoing treasure hunt that spurs regular store visits and encourages consumers to buy immediately rather than risk someone else snatching up a deal. Once the retail landscape fully regains its pre-COVID footing, TJX’s winning formula will continue to be a big plus for both its customers and its investors.
I am wondering about your recent trend to use “this stock is up a Ka-billion % since …”. While that may have proved that it was a great company, how am I supposed to know whether it has topped out and despite your glowing analysis that it still has upside? Reason I ask is I have been burnt in the past on the Motley Fool “ten bigger” hype. Usually that stock had reached an apex and you needed to wait another ten years for it to generate anything similar to previous performance or the smart money was already moving out.
Thanks for your comment, Chris.
Citing big gainers in our marketing material is a great way to attract new subscribers. That then gives us a chance to show them the time-tested advantages of following our the Successful Investor’s three-part TSI philosophy.
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I am wondering about your recent trend to use “this stock is up a Ka-billion % since …”. While that may have proved that it was a great company, how am I supposed to know whether it has topped out and despite your glowing analysis that it still has upside? Reason I ask is I have been burnt in the past on the Motley Fool “ten bigger” hype. Usually that stock had reached an apex and you needed to wait another ten years for it to generate anything similar to previous performance or the smart money was already moving out.
Thanks for your comment, Chris.
Citing big gainers in our marketing material is a great way to attract new subscribers. That then gives us a chance to show them the time-tested advantages of following our the Successful Investor’s three-part TSI philosophy.