The US trading group TJX Companies Inc. presented solid figures for the 2022/23 financial year on Wednesday. The world’s largest off-price provider, which is represented in Germany with its TK Maxx chain, was able to surpass the previous year’s level in terms of sales and earnings. The company forecast further growth for the current year.
For the fiscal year ended Jan. 28, TJX consolidated revenues reached $49.9 billion (EUR 46.9 billion). This corresponded to an increase of almost three percent (currency-adjusted +5 percent) compared to the previous year.
Revenues were up 1% in the US to $38.8 billion, Canada up 13% (+18% currency adjusted) to $4.9 billion and Other International, which includes operations in Europe and Canada Australia includes, by eight percent (currency adjusted +22 percent) to 6.2 billion US dollars.
Although the sale of a minority stake in the Russian trading company Familia weighed on the result, the group was able to increase its net profit by 6.5 percent to 3.5 billion US dollars (3.3 billion euros).
For the current year, the company now expects a sales increase on a comparable basis in the range of two to three percent. Diluted earnings per share are expected to increase to between $3.39 and $3.51 from last year’s $2.97.
