Strong Holiday Sales Helps TJX Companies Beat Street

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TJX Companies Inc (TJX) was helped through its fiscal fourth quarter of 2016 with strong holiday sales.

TJX CompaniesTJX Companies reported earnings per share of 99 cents for Q4 2016. This is up from the 93 cents per share from the same time last year. It also beat out Wall Street’s EPS estimate of 94 cents.

TJX Companies’ revenue for the fourth quarter of 2016 was $8.9 billion. Revenue for Q4 2015 was $8.3 billion. Analysts were expecting the company to report revenue of $8.7 billion for the quarter.

TJX Companies is expecting earnings per share for the first quarter of fiscal 2017 to be between 68 cents and 70 cents. It also expects EPS ranging from $3.29 to $3.38 for the fiscal year.

“Our fourth quarter 6% comp growth and 6% increase in earnings per share significantly exceeded our expectations,” TJX Companies CEO Ernie Herrman said. “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.”

TJX shares were up 2% as of Wednesday morning.

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