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Stock impact report

The 'off-price' boom: Retail giant announces $2.5B buyback as discount shopping surges [Yahoo! Finance]

TJX Companies, Inc. (The) (TJX) 
Last tjx companies, inc. (the) earnings: 2/26 08:00 am Check Earnings Report
US:NYSE Investor Relations: investor.tjx.com
Company Research Source: Yahoo! Finance
Even as higher-end department stores struggle, off-price retail is thriving, showing that Americans are still spending, just more selectively. TJX Companies – which owns TJ Maxx, Marshalls and HomeGoods – blew past Wall Street expectations in its fourth quarter earnings report Wednesday morning. Sales surged 9% year-over-year to $17.7 billion in the fourth quarter, with comparable store sales up 5%. TJX also boosted its quarterly dividend 13% to 48 cents per share, and brought in a net income of $1.8 billion that quarter. More notably, the report revealed that the retail company plans to repurchase between $2.5 billion and $2.75 billion in stock this fiscal year, as TJX noted "continued strong cash flow." It's a major signal management believes the "trade-down" trend isn't temporary. Middle-income Americans Struggling To Keep Up As Living Costs Weigh On Paychecks, Survey Says "Thanks to the collective efforts and sharp execution of our teams, we delivered above-plan results Show less Read more
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