TJX Cos. Shares Rise on 4Q Beat, Boosted Dividend and Buyback
February 26 2020 - 8:57AM
Dow Jones News
By Robert Barba
TJX Cos. shares rose more than 6% in premarket trading as the
company beat expectations in the latest quarter and expanded its
shareholder return program.
The parent company for T.J. Maxx, Marshalls and HomeGoods
reported earnings of 81 cents a share on sales of $12.2 billion.
Analysts had expected earnings of 77 cents a share on sales of
$11.83 billion.
The company also raised its dividend by 13% to 26 cents a
share.
The retail company said it plans to repurchase $1.75 billion to
$2.25 billion of its stock for the year ending Jan. 30, 2021, up
from the $1.5 billion in bought back in the last fiscal year.
The board approved a new $1.5 billion buyback authorization,
adding to the $1.7 billion remaining on the old plan, the company
said.
Write to Robert Barba at robert.barba@wsj.com
(END) Dow Jones Newswires
February 26, 2020 08:42 ET (13:42 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
TJX Companies (NYSE:TJX)
Historical Stock Chart
From Mar 2024 to Apr 2024
TJX Companies (NYSE:TJX)
Historical Stock Chart
From Apr 2023 to Apr 2024
