TJX Companies Inc.(NYSE: TJX) released its quarterly effects for the fiscal year 2021 before markets opened Wednesday.the company reported consistent profits with a consistent percentage of $0.62 on a $9.8 billion profit.The effects of the second quarter are also compared to consensus estimates of a net loss consistent with a consistent percentage of $0.01 and a profit of $6.6 billion.
The company’s retail outlets were temporarily closed due to the COVID-19 pandemic for about one-third of the quarter.quarter to the same days last year.Online sales are also excluded, with the exception of Sierra outlets.According to this measure, comparable sales decreased by 3% year-on-year.
TJX operates around 4557 international retail outlets as well as 4 e-commerce sites.The lack of main points similar to virtual sales the quarter says a lot about the company’s business.
Retail clothing outlets were not considered essential businesses after the pandemic closed, and virtual sales were unable to take over as they did for general product chains (and supermarkets) such as Walmart or Target.
What’s even worse for TJX is that no federal government money was provided for the current quarter.As the pandemic continues to worsen in some parts of the world, store closures will almost in fact continue.United States, the lack of money for millions of unemployed Americans means that clothing purchases deserve to be reduced.This year’s back-to-school grocery shopping season, the time when the most productive promotion era for retailers, has necessarily evaporated.
TJX expects comparable third quarter sales (on the same basis as described above) to decrease by 10% to 20% year after year.The company said this “is consistent with sales trends observed from mid-July to August from the beginning of the month.”
Consensus estimates forecast third-quarter earnings consistent with a consistent percentage of $0.57 on a profit of $10.2 billion.Sales for the third quarter last year totaled $10.5 billion, and a 10% relief on total sales is less than this estimate.even lower. Analysts will want to re-think about their perspective for TJX and other branches.She’ll be pretty.
Inventory traded more than 6% Wednesday morning at $53.73 in a 52-week diversity of $32.72 to $64.95.The consensus value target in inventory is $63.23.The company suspended dividend bills and percentage buybacks, and began the third quarter with $6.6 billion in cash.