TJX Companies Inc (NYSE:TJX) stock rose 0.81% (As on May 18, 11:13:56 AM UTC-4, Source: Google Finance) after the company posted mixed result for the first quarter of FY 24. The company’s overall comp store sales increased 3 percent. Comp store sales grew 5% at Marmaxx (U.S.) while declining 7% at HomeGoods (U.S.). Comp store sales increased 1% and 4%, respectively, at TJX Canada and TJX International (Europe & Australia). In the Marmaxx (U.S.) division, the company’s net sales came in at $7,366 million, up 7% year over year, driven by strength in the apparel and accessories categories. Net sales amounted to $1,966 million, down 3% year over year, in the HomeGoods (U.S.) division. TJX Canada’s net sales came in at $1,038 million, down 4% from the figure reported in the year-ago period. TJX International’s (Europe & Australia) net sales were $1,413 million, nearly flat year over year. TJX Companies ended the quarter with cash of $5,025 million, long-term debt of $2,860 million and shareholders’ equity of $6,422 million. The company generated operating cash flow of $745 million in the first quarter of fiscal 2024. As of Apr 29, 2023, total inventories were $6.4 billion.

TJX in the first quarter of FY 24 has reported the adjusted earnings per share of 76 cents, beating the analysts’ estimates for the adjusted earnings per share of 71 cents, according to the Zacks Consensus Estimate. The company had reported the adjusted revenue growth of 3 percent to $11.8 billion in the first quarter of FY 24, missing the analysts’ estimates for revenue of $11.82 billion.

For the second quarter, the company expects overall comparable store sales to be up 2 percent to 3 percent, pretax profit margin to be in the range of 9.3 percent to 9.5 percent and diluted earnings per share to be in the range of 72 cents to 75 cents.

For the fiscal year ending February 3, 2024, the company continues to expect overall comparable store sales to be up 2 percent to 3 percent, pretax profit margin to range between 10.3 percent to 10.5 percent and diluted earnings per share to be in the range of 3.49 dollars to 3.58 dollars.

Adjusted pretax profit margin is expected to be in the range of 10.2 percent to 10.4 percent and adjusted diluted earnings per share to be in the range of 3.39 dollars to 3.48 dollars.