104 annotations
Page 5 of 6
Our pretax margin outperformance was primarily driven by merchandise margin and effective expense management
(No comment added)
Transcript
2023 Q2
24 Aug 22
We achieved the strong profitability through better-than-expected merchandise margin and disciplined expense management.
(No comment added)
Transcript
2023 Q2
24 Aug 22
we believe historically high inflation impacted consumer discretionary spending
(No comment added)
Transcript
2023 Q2
24 Aug 22
For the second quarter, U.S. average basket was up, driven by a higher average ticket, and U.S. customer traffic was down.
(No comment added)
Transcript
2023 Q2
23 Aug 22
we should be able to, as we’ve spoken over the last several quarters, increase our profitability, assuming, as Ernie said, there’s no major changes to the headwinds
(No comment added)
Transcript
2023 Q2
23 Aug 22
our merchandise margin opportunities, the moderation of expense headwinds, particularly freight, and our focus on expense management will contribute to our improved profitability.
(No comment added)
Transcript
2023 Q2
23 Aug 22
getting longer term contract rates, more -- using much more contract rates on the spot market -- the spot market for ocean freight.
(No comment added)
Transcript
2023 Q2
23 Aug 22
as the freight starts to moderate, a lot of this has to do with the freight. We did say if the environment was such that the freight would moderate, we would be able to improve our margin. That certainly is what’s happening in the back half. And we still would expect our freight rates to be better next year.
(No comment added)
Transcript
2023 Q2
23 Aug 22
Merchandise margin had a significant benefit from a combination of strong mark-on and our pricing initiative, but was down due to 240 basis points of incremental freight pressure. Incremental wage costs were 80 basis points.
(No comment added)
Transcript
2023 Q2
23 Aug 22
no one asked, part of why the inventory is up is you have the freight and cost impact that’s buried in the overall inventory.
(No comment added)
Transcript
2023 Q2
23 Aug 22
we buy so much of the inventory so close in relative to traditional retailers
(No comment added)
Transcript
2023 Q2
23 Aug 22
Importantly, overall store inventory turns are better than our pre-pandemic levels
(No comment added)
Transcript
2023 Q2
23 Aug 22
we’re measuring our turns and all of these things relative to pre-COVID, fiscal ‘20, calendar ‘19. And in most cases, we are actually turning our inventories faster than then.
(No comment added)
Transcript
2023 Q2
23 Aug 22
let me be clear on your question about pushback on the pricing.
We have zero
(No comment added)
Transcript
2023 Q2
23 Aug 22
For the second quarter, we are planning U.S. comp sales to be down 1% to 3% over an outsized 21% U.S. open-only comp store sales increase last year.
(No comment added)
Transcript
2023 Q1
23 Aug 22
pretax margin will be in the range of 10.1% to 10.4%. U.S. comp stores will be in the range of flat to down 1%, and earnings per share will be in the range of $0.92 to $0.96.
(No comment added)
Transcript
2023 Q2
23 Aug 22
we’re planning third quarter EPS of $0.77 to $0.81 per share.
(No comment added)
Transcript
2023 Q2
23 Aug 22
For the third quarter, we’re planning pretax margin in the range of 10.1% to 10.4%. This guidance assumes approximately 100 basis points of incremental freight expense and about 80 basis points of incremental wage costs. In the third quarter, we are planning U.S. comp store sales to be down 3% to 5% over an outsized 16% U.S. open-only comp store increase last year.
Next, we are planning third quarter TJX sales in the range of $12.1 billion to $12.3 billion.
(No comment added)
Transcript
2023 Q2
23 Aug 22
For full year adjusted earnings per share, we are now planning a range of $3.05 to $3.13, which is up 7% to 10% over last year’s adjusted $2.85. This guidance now includes a $0.03 negative impact from FX that was not contemplated in our original full year plan.
(No comment added)
Transcript
2023 Q2
23 Aug 22
we are now assuming 140 basis points of incremental freight expense and 70 basis points of incremental wage costs.
(No comment added)
Transcript
2023 Q2
23 Aug 22