TJX Companies, which operates TJ Maxx, Marshalls, and HomeGoods, reported strong sales of $16.35 billion for Q4 and a significant net income of $1.4 billion. The company saw a 5% increase in consolidated comparable store sales during the quarter. Despite a strong performance and continued expansion, with the opening of its 5,000th store, future revenue guidance was lower than analyst predictions. CEO Ernie Herrman praised the company’s achievements, marking over $56 billion in annual sales and a 4% increase in comparable store sales.
CEO and president Ernie Herrman stated, "I am very proud of the performance of our hardworking associates in 2024. We exceeded our expectations with over $56 billion in annual sales, a 4% comparable store sales increase, and a significant boost in profitability."
Despite challenging retail conditions shown by other major companies, TJX reported net sales of $16.35 billion in Q4, exceeding Wall Street's expectations although future guidance fell short of analyst predictions.
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