The TJX Companies Sees Q4 EPS $0.74-$0.76 vs $0.77 Est., Sees FY20 EPS $2.61-$2.63 vs $2.61 Est.

Fourth Quarter and Full-Year Fiscal 2020 Outlook For the fourth quarter of Fiscal 2020, the Company expects diluted earnings per share to be in the range of $.74 to $.76 versus earnings per share of $.68 in the prior

Benzinga · 11/19/2019 13:32

Fourth Quarter and Full-Year Fiscal 2020 Outlook

For the fourth quarter of Fiscal 2020, the Company expects diluted earnings per share to be in the range of $.74 to $.76 versus earnings per share of $.68 in the prior year. This EPS outlook is based upon estimated comparable store sales growth of 2% to 3% on a consolidated basis and at Marmaxx.

For the 52-week fiscal year ending February 1, 2020, the Company now expects diluted earnings per share to be in the range of $2.61 to $2.63. This would represent a 7% to 8% increase over the prior year’s $2.43, which included a $.02 negative impact from a pension settlement charge. The Company expects diluted earnings per share to increase 7% over the prior year’s adjusted $2.45, which excluded the pension settlement charge. This EPS outlook is based upon estimated comparable store sales growth of 3% on a consolidated basis and 3% to 4% at Marmaxx.

The Company’s earnings guidance for the fourth quarter and full-year Fiscal 2020 assumes that currency exchange rates will remain unchanged from the levels at the beginning of the fourth quarter.