The TJX Companies, Inc. (NYSE: TJX) has reported a double-digit increase in net income for the fourth quarter of 2024 when the fashion retailer’s net sales grew 13%.
Fourth-quarter sales increased to $16.41 billion from $ 14.52 billion in the corresponding period of last year. Overall comp store sales increased 5%, driven by strong customer traffic.
As a result, net income rose to $1.40 billion or $1.22 per share in the January quarter from $1.04 billion or $0.89 per share in the prior-year period. For the first quarter of 2025, the company expects total comparable store sales to be up 2%-3%.
“We had a very strong finish to 2023 and start the new year in a position of strength with the first quarter off to a good start. We are energized and laser-focused on capitalizing on our opportunities for the year ahead and, as always, we’ll strive to beat our plans. Longer term, we are excited about the potential we see to strategically grow our business, capture additional market share, and increase the profitability of our Company,” said TJX’s CEO Ernie Herrman.