The TJX Cos., for the fourth quarter ended January 30, posted net income of $666.5 million, or 99 cents per diluted share, versus $648.2 million, or 93 cents per diluted share, in the year-prior period. Comparable stores sales at the company’s HomeGoods division, at 7%, outpaced the consolidated company comp of 6%.
Comps at the Marmaxx division, which includes T.J. Maxx and Marshalls operations, gained 6% while those at TJX Canada increased 14% and those at TJX international gained 1%, all on a constant currency basis. Net sales for the fourth quarter advanced 8% to $8.96 billion.
For the full fiscal year, net income was $2.28 billion, or $3.33 per diluted share, versus $2.22 billion, or $3.15 per diluted share including a one-cent per share debt extinguishment charge.
Year over year, consolidated comparable store sales increased 5% with HomeGoods again outpacing the company at 8%. Comps rose by 4% at the Marmaxx division, 12% at TJX Canada and 4% at TJX international on a local currency basis. Fiscal full year net sales gained 6% to $30.94 billion versus fiscal 2014.
“We are extremely pleased to end another strong year with terrific fourth quarter results,” said Ernie Herrman, TJX president and CEO. “Our fourth quarter 6% comp growth and 6% increase in earnings per share significantly exceeded our expectations. Once again, customer traffic drove our entire consolidated comp increase. It was also the primary driver of our comp increases at every division in the fourth quarter and full year as we continued delivering consumers a differentiated offering at extreme value. We were particularly pleased that our overall merchandise margin was up in the fourth quarter while we continued to offer shoppers outstanding values. For the full year, we were thrilled to surpass $30 billion in sales, achieve consolidated comp sales growth of 5%, and deliver above-plan EPS growth. The year 2015 marks our 20th consecutive year of increases in comp sales and EPS.”
Herrman added, “The year is off to a strong start, and we have many initiatives planned to continue driving sales and traffic. Our business is very healthy, and similar to last year, our plans for earnings per share growth reflect the negative impact of foreign currency and our previously announced wage initiative. We plan to continue to balance our growth with investments, develop new seeds for growth, and strengthen our leadership positions across the globe. We now operate in nine countries, across three continents, and are excited about the opportunities we see both in our existing regions and new international markets.”
In the 2015 fiscal year, TJX added 219 stores net including 39 HomeGoods units. The company operates a total of 3,614 stores in nine countries, including 1,156 T.J. Maxx, 1,007 Marshalls, 526 HomeGoods and 8 Sierra Trading Post stores in the U.S.