Topic: How To Invest

Power Growth Investor Hotline – Friday, August 25, 2023

Article Excerpt

THE TJX COMPANIES, $88.82, is still a buy. The business (symbol TJX on New York) 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 1,305 T.J. Maxx locations, 1,190 Marshalls, 907 HomeGoods, 83 Sierra Trading Post outlets and 49 HomeSense locations. In Canada, it has 299 Winners outlets, 154 HomeSense locations and 106 Marshalls stores. TJX also operates in Europe, with 636 TK Maxx and 79 Homesense stores; and in Australia, with 76 TK Maxx outlets. Overall revenue in the quarter ended July 29, 2023, rose 7.7%, to $12.76 billion from $11.84 billion a year earlier. Comparable same-store sales increased 6.0%. TJX reported earnings per share of $0.85 in the quarter, up 23.2% from $0.69. The company raised its quarterly dividend by 12.7% with the June 2023 payment, to $0.3325 from $0.295 a share. The…