TJX(TJX) - 2025 Q4 - Annual Results

Financial Performance - Q4 net sales were $16.4 billion, flat compared to the 14-week Q4 of Fiscal 2024, with a 5$1.23, up 10% from the adjusted $1.12 in the previous year, and net income was$1.4 billion[3][5]. - For the full year Fiscal 2025, net sales reached $56.4 billion, a 4$4.26, up 10% from $3.86[4][5]. - The Q4 pretax profit margin was 11.6$4,864 million, an increase from $4,474 million for the previous year[44]. - Total net sales for the fifty-two weeks ended February 1, 2025, reached$56,360 million, up from $54,217 million in the prior year, representing a growth of approximately 3.95$7,041 million for the fifty-two weeks ended February 1, 2025, compared to $6,505 million in the previous year, reflecting an increase of about 8.23$4.1 billion to shareholders in Fiscal 2025 through share repurchases and dividends, including $1.3 billion in Q4[20][21]. - The Company declared cash dividends of$0.375 per share for the fourth quarter of Fiscal 2025, up from $0.3325 per share in the prior year[39]. - The company returned$4.1 billion to shareholders during the twelve months ended February 1, 2025, including $2.5 billion in stock repurchases and$1.6 billion in dividends[48]. - A new stock repurchase program was approved, allowing for the repurchase of up to an additional $2.5 billion of common stock, with$1.1 billion remaining under the existing program as of February 1, 2025[48]. Future Outlook - For Fiscal 2026, the company expects consolidated comparable store sales to increase by 2% to 3% and diluted earnings per share to be in the range of $4.34 to$4.43[23]. - The first quarter Fiscal 2026 diluted earnings per share is expected to be between $0.87 and$0.89, representing a 4% to 6% decrease from the prior year[24]. - The Company expects consolidated comparable store sales to increase by 2% to 3% in the last nine months of Fiscal 2026, with a pretax profit margin projected between 11.6% and 11.7%[26]. - Diluted earnings per share for Fiscal 2026 are anticipated to be in the range of $3.47 to$3.54, reflecting a growth of 4% to 6% compared to the prior year[26]. Inventory and Assets - The company reported total inventories of $6.4 billion as of February 1, 2025, up from$6.0 billion at the end of Fiscal 2024[18]. - Total assets increased to $31.749 billion as of February 1, 2025, compared to$29.747 billion as of February 3, 2024[42]. Store Operations - The Company increased its store count by 131 stores to a total of 5,085 stores during the fiscal year ended February 1, 2025, with a 2% increase in square footage[27]. - The Company operates over 5,000 stores across nine countries, including various brands such as TJ Maxx, Marshalls, and HomeGoods[32]. Investments - The company completed a 35% ownership stake investment in Brands for Less for $358 million during the fourth quarter ended February 1, 2025[48]. - The company invested$193 million for a 49% interest in a joint venture with Grupo Axo, S.A.P.I. de C.V. during the third quarter ended November 2, 2024[48]. Cash Flow - Cash and cash equivalents at the end of the period were $5,335 million, down from$5,600 million at the beginning of the year[44]. - Net cash provided by operating activities was $6,116 million for the fifty-two weeks ended February 1, 2025, compared to$6,057 million in the previous year[44]. - Net cash used in investing activities was $(2,477) million for the fifty-two weeks ended February 1, 2025, compared to$(1,717) million in the prior year[44]. Currency Impact - The impact of foreign currency exchange rates was neutral on the Company's net sales growth in Fiscal 2025, with a $0.01 positive impact on diluted earnings per share for the full year[31]. Commitment to Value - The Company emphasizes its commitment to delivering value, offering products at prices generally 20% to 60% below full-price retailers[32].