Co issues downside guidance for Q1, sees EPS of $0.59-0.62 vs. $0.63 Capital IQ Consensus Estimate.
Co issues downside guidance for FY14, sees EPS of $2.66-2.78 vs. $2.83 Capital IQ Consensus Estimate.
TJX guidance is typically conservative.
The co also announced today that beginning with the Fiscal 2014 second quarter, it will no longer report monthly sales, consistent with the retail industry trend.
The Company also announced today its plan to repurchase ~$1.3 billion to $1.4 billion of TJX stock during the fiscal year ending February 1, 2014. With $925 million remaining at Fiscal 2013 year end under the Company's existing stock repurchase program, the Company's Board of Directors approved a new stock repurchase program that authorizes the repurchase of up to an additional $1.5 billion of TJX common stock from time to time.
Co also plans to raise quarterly dividend 26% to $0.145 (subject to Board approval).
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