The TJX Companies, Inc. Reinstates Share Repurchase Program, Announces Quarterly Common Stock Dividend, & Updates Q2 FY22 Sal...
May 27 2021 - 4:05PM
Business Wire
The TJX Companies, Inc. (NYSE:TJX) today announced that its
Board of Directors has reinstated its share repurchase program. The
Company plans to repurchase approximately $1.0 billion to $1.25
billion of TJX stock during the fiscal year ending January 29,
2022, and currently has approximately $3.0 billion remaining under
its existing stock repurchase programs. TJX also announced the
declaration of a quarterly dividend on its common stock of $.26 per
share payable September 2, 2021, to shareholders of record on
August 12, 2021. Further, as of today, the Company continues to see
second quarter overall open-only comp store sales trends similar to
the first quarter.
Ernie Herrman, Chief Executive Officer and President of The TJX
Companies, Inc., commented, “We are pleased to announce the
reinstatement of our significant share repurchase program together
with the declaration of our quarterly dividend. We are also pleased
to see continued momentum in our business as second quarter overall
open-only comp store sales trends remain similar to the first
quarter. Throughout the global pandemic, we have remained focused
on ensuring the financial stability of the Company in order to
emerge from the health crisis in a position of strength for our
Associates, customers, shareholders, and other business associates.
The actions we announced today demonstrate our confidence in our
business and our outlook for successful growth over the long term.
We see many opportunities to capture additional market share in the
future, and with our very strong balance sheet and ability to
generate cash flow, we are very pleased to again be in a position
of significantly investing in our business and returning
substantial cash to our shareholders.”
About The TJX Companies,
Inc.
The TJX Companies, Inc. is the leading off-price retailer of
apparel and home fashions in the U.S. and worldwide. As of May 1,
2021, the end of the Company’s first quarter, the Company operated
a total of 4,639 stores in nine countries, the United States,
Canada, the United Kingdom, Ireland, Germany, Poland, Austria, the
Netherlands, and Australia, and four e-commerce sites. These
include 1,282 T.J. Maxx, 1,147 Marshalls, 843 HomeGoods, 52 Sierra,
and 39 Homesense stores, as well as tjmaxx.com, marshalls.com, and
sierra.com, in the United States; 284 Winners, 143 HomeSense, and
103 Marshalls stores in Canada; 604 T.K. Maxx and 78 Homesense
stores, as well as tkmaxx.com, in Europe; and 64 T.K. Maxx stores
in Australia. TJX’s press releases and financial information are
available at TJX.com.
Important Information at
Website
The Company routinely posts information that may be important to
investors in the Investors section at TJX.com. The Company
encourages investors to consult that section of its website
regularly.
Forward-looking
Statement
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995: Various statements made in this release are
forward-looking and involve a number of risks and uncertainties.
All statements that address activities, events or developments that
we intend, expect or believe may occur in the future are
forward-looking statements. The following are some of the factors
that could cause actual results to differ materially from the
forward-looking statements: the ongoing COVID-19 pandemic and
associated containment and remediation efforts; execution of buying
strategy and inventory management; various marketing efforts;
customer trends and preferences; competition; operational and
business expansion; management of large size and scale; merchandise
sourcing and transport; labor costs and workforce challenges;
personnel recruitment, training and retention; data security and
maintenance and development of information technology systems;
corporate and retail banner reputation; cash flow; expanding
international operations; fluctuations in quarterly operating
results and market expectations; mergers, acquisitions, or business
investments and divestitures, closings or business consolidations;
real estate activities; inventory or asset loss; economic
conditions and consumer spending; market instability; serious
disruptions or catastrophic events; disproportionate impact of
disruptions in the second half of the fiscal year; commodity
availability and pricing; adverse or unseasonable weather;
fluctuations in currency exchange rates; compliance with laws,
regulations and orders and changes in laws, regulations and
applicable accounting standards; outcomes of litigation, legal
proceedings and other legal or regulatory matters; quality, safety
and other issues with our merchandise; tax matters; and other
factors that may be described in our filings with the Securities
and Exchange Commission. We do not undertake to publicly update or
revise our forward-looking statements even if experience or future
changes make it clear that any projected results expressed or
implied in such statements will not be realized.
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The TJX Companies, Inc. Debra McConnell Global Communications
(508) 390-2323
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