3 Impressive Numbers From TJX Companies' Third-Quarter Report
TJX Companies (NYSE: TJX) reported 6% year-over-year sales growth in its fiscal third-quarter 2020 earnings report released Tuesday, and provided investors with a solid fourth-quarter earnings per share projection while raising its full-year earnings outlook. The clothing and home-goods retailer represents the rare consumer discretionary investment that seems to flourish even in difficult economic conditions, due to the off-price, brand-name value proposition of its merchandise. Below, let's hone in on three illustrative numbers from the third quarter that characterize the company's recent success.
TJX Companies reported a comparable-store sales improvement of 4% -- a particularly notable result as it built on 7% "comps" growth in the third quarter of 2019. Another way to look at this is that two-year, or "stacked" comps represent total same-store sales growth of 11% cumulatively since the third quarter of 2018.
As has often been the case over the last several quarters, management attributed the growth primarily to higher traffic in stores. While many peer physical store retailers are struggling to draw shoppers due to competition from e-commerce, TJX's global brands, which offer a constantly evolving mix of goods in a "treasure-hunt" retail experience, rarely seem to experience soft traffic trends.
Source Fool.com