On May 15, TJX Companies
- Sales increased 6.1%, while comparable-store sales rose 2%.
- The gross profit margin was 24.1%, down 0.4 points year over year because of slightly higher merchandise markdowns.
- TJX suffered an "unauthorized intrusion" into portions of its computer systems, spending $12 million (after taxes) to investigate and contain the problem.
- For the second quarter, the company expects earnings per share from continuing operations in the range of $0.29 to $0.32, and comps growth between 3% and 4%.
(Figures in millions, except per-share data.)
Income Statement Highlights
|
Q1 2008 |
Q1 2007 |
Change |
|
|---|---|---|---|
|
Sales |
$4,108.1 |
$3,871.3 |
6.1% |
|
Net Profit |
$162.1 |
$163.9 |
(1.1%) |
|
EPS |
$0.34 |
$0.34 |
0% |
|
Diluted Shares |
479.0 |
484.9 |
(1.2%) |
Get back to basics with the income statement.
Margin Checkup
|
Q1 2008 |
Q1 2007 |
Change* |
|
|---|---|---|---|
|
Gross Margin |
24.1% |
24.5% |
(0.4) |
|
Operating Margin |
6.4% |
6.6% |
(0.2) |
|
Net Margin |
4% |
4.2% |
(0.3) |
Margins are the earnings engine.
Balance Sheet Highlights
|
Assets |
Q1 2008 |
Q1 2007 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$781.2 |
$279.9 |
179.1% |
|
Accounts Rec. |
$411.1 |
$411.0 |
0% |
|
Inventory |
$2,829.3 |
$2,555.3 |
10.7% |
|
Liabilities |
Q1 2008 |
Q1 2007 |
Change |
|---|---|---|---|
|
Accounts Payable |
$1,562.0 |
$1,450.9 |
7.7% |
|
Long-Term Debt |
$800.0 |
$789.6 |
1.3% |
The balance sheet reflects the company's health.
Cash Flow Highlights
|
Q1 2008 |
Q1 2007 |
Change |
|
|---|---|---|---|
|
Cash From Ops. |
$16.9 |
$50.8 |
(66.7%) |
|
Capital Expenditures |
$95.2 |
$96.0 |
(1%) |
|
Free Cash Flow |
($78.3) |
($45.2) |
N/A |
Free cash flow is a Fool's best friend.
Related Foolishness:
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