CONTACT:
Debra
McConnell
Global Communications
FOR IMMEDIATE RELEASE
(508) 390-2323
Wednesday, February 23, 2022
THE TJX COMPANIES, INC. REPORTS VERY STRONG U.S. OPEN-ONLY COMP STORE SALES
GROWTH OF 13% FOR Q4 FY22 VS. Q4 FY20; FY22 U.S. OPEN-ONLY COMP SALES UP 17% VS. FY20;
ANNOUNCES PLANS TO INCREASE DIVIDEND 13% AND BUY BACK $2.25 TO $2.50 BILLION OF
STOCK
•
Q4 FY22 U.S. open-only comp store sales increased 13% over Q4 FY20
•
Q4 FY22 overall open-only comp store sales increased 10% over Q4 FY20
•
Q4 FY22 net sales were $13.9 billion, an increase of 14% compared to Q4 FY20
•
Q4 FY22 diluted earnings per share were $.78
•
FY22 U.S. open-only comp store sales increased 17% over FY20, and increased low-teens or better each quarter
of FY22
•
FY22 overall open-only comp store sales increased 15% over FY20, and increased double-digits each quarter
of FY22
•
FY22 net sales were $48.5 billion, an increase of 16% compared to FY20
•
FY22 GAAP diluted earnings per share were $2.70
•
FY22 adjusted diluted earnings per share were $2.85, which excludes the negative impact of a debt
extinguishment charge of $.15 per share
•
Returned $3.4 billion to shareholders in FY22 through share repurchases and dividends
•
Provides Q1 FY23 and full year FY23 guidance
Framingham, MA -- The TJX Companies, Inc. (NYSE: TJX), the leading off-price apparel and
home fashions
retailer in the U.S. and worldwide, today announced sales and operating results for the fourth quarter ended January 29,
2022. Net sales for the fourth quarter of Fiscal 2022 were $13.9 billion, an increase of 27% versus
the fourth quarter of
Fiscal 2021. Stores were closed for approximately 13% of the fourth quarter of Fiscal 2021. Net sales for the fourth
quarter of Fiscal 2022 increased 14% versus the fourth quarter of Fiscal 2020. U.S. open-only comp store sales (defined
below) increased 13% over a 6% increase in the fourth quarter of Fiscal 2020. Overall open-only
comp store sales
increased 10% over a 6% increase in the fourth quarter of Fiscal 2020. Net income for the fourth quarter was $940
million and diluted earnings per share were $.78 versus $.81 per share in the fourth quarter of Fiscal 2020.
For the full year Fiscal 2022, net sales were $48.5 billion, an increase of 51% versus the full year Fiscal 2021.
Stores were closed for approximately 4% of Fiscal 2022 and 24% of Fiscal 2021 due to the COVID-19 global
pandemic (see table below). Net sales for the full year Fiscal 2022 increased 16% versus Fiscal 2020. Full year U.S.
open-only comp store sales increased 17% compared to Fiscal 2020. Full year Fiscal 2022 overall open-only comp
store sales increased 15% compared to Fiscal 2020. Net income for the full year Fiscal 2022 was $3.3 billion. Full year
Fiscal 2022 diluted earnings per share were $2.70 versus $2.67 in Fiscal 2020. Full year Fiscal 2022
adjusted diluted
earnings per share were $2.85, which excludes the negative impact of a second quarter debt extinguishment charge
of $.15 per share.
