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tjx earnings date

First of all, combination of both? Again, and most importantly, I want to thank all of our associates worldwide who have shown an amazing commitment to TJX and have done outstanding work over these past eight months. We also disclosed this morning that we plan to issue new bonds maturing in seven and 10 years. So we’re very excited about it. As we mentioned, we have a number of stores, over 400 stores closed in Europe right now. We believe HomeGoods e-commerce will allow us to leverage both our strength in the home category and the power of our global buying organization and sourcing universe. We will continue to look for opportunities to recognize associates in the fourth quarter for their continued contributions to the business. I think we have, I mean, again we — as we’ve talked about the last two quarters, we slowed down significantly. Sometimes not huge quantity, by the way, but it’s great because you feel there is a relationship that just started that should benefit us next year and the year after. So if there is — if the real estate deal is right and it’s near a HomeGoods, right, Scott, we’re going to take advantage of that with some additional HomeSense stores as well even though we might already be in the market again with the HomeGoods. Your line is open. And markdowns were also, Matt, this wouldn’t surprise you because we were lean through a lot of that third quarter and we’re still lean and the way our sales were, I don’t want to say, only down 5%, but down 5% was well ahead of where we had thought they would be based on the environment and the inventories, our markdown rates were all much better than last year. Again we’ve talked about this before that when things normalize, we should get the increased market share because of all the store closures that have happened with brick and mortar, I believe we’re going to capture a lot of that coming out of this. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. Our next question comes from Paul Lejuez. First, we are convinced that we will be a gifting destination again this holiday season. So what we wanted to do and this applies, by the way, with relocations in Marmaxx or in new stores and with HomeSense in Canada. Just to be clear, when you looked at the two previous years, we had some fairly significant inventory increases that we’re going against and some of that was in the distribution center. Our buyers have done a great job communicating with our vendors and leveraging our global buying offices in this environment. Please log in to your account or sign up in order to add this asset to your watchlist. There is a lot of opportunity, as Ernie said in his prepared remarks. A lot of our openings this year that even on stores that we had signed and moved them from fiscal ’21 to fiscal ’22 or calendar ’21. The company declared strong fourth-quarter results and a dividend hike. We believe that our third quarter sales, earnings and cash flow demonstrate what TJX is capable of when nearly all of our stores are open for a full quarter. Revenue fell … But again, we’re trying to watch with what’s going on with the safety protocol and the social distancing and balancing that whole store experience with our sales. [Operator Instructions] As a reminder, this conference call is being recorded November, 18, 2020. View our full suite of financial calendars and market data tables, all for free. I just don’t know if we can move it to that degree on the margin rates over the long, long term. Upgrade to MarketBeat Daily Premium to add more stocks to your watchlist. Okay. We have several initiatives planned to help mitigate some of this pressure and to improve traffic flow and speed of checkout. Learn about financial terms, types of investments, trading strategies and more. The percentages were less than last year, which was healthy. This would represent a 13% increase versus our previous dividend of $0.23 last paid in March of 2020. Scott, any thoughts at this stage on how much of the headwind that could be in the medium term as we go into next year or a little too early to talk about that? As we said in our release, we are not providing a financial outlook for the fourth quarter due to COVID and the increasing uncertainty around temporary store closures and the consumer shopping behavior in this environment. And just Matt to just go on a little in terms of the rest of the merchandise margin, there was the timing of the markdowns so that was significant worth approximately 50 basis points that benefited us in the third quarter. Our next question comes from Lorraine Hutchinson. Moving to the bottom line, third quarter earnings per share were $0.71, which was significantly better than we anticipated. Good morning. Thanks. The third quarter marked the first quarter this year that nearly all of our stores were open. Keep in mind, if nobody tenders their bonds, the charge will be zero. TJX Companies, Inc. (The) (TJX) - NYSE Next Earnings Date: OS Estimate: Feb. 24, 2021 BO OS Projected Window: Feb. 21, 2021 to Feb. 28, 2021 In terms of the offsets to that and the third to fourth quarter, yeah, we do have government relief that we’ve been getting, particularly in the third quarter from Canada and Europe that are still — that we’re offsetting the cost. We were very pleased that overall sales and sales across all of our divisions well exceeded our plans. Thanks, Ernie, and good morning, everyone. And I think the overall freight aspects of it, we’re going to be getting better, but it’s still, as you probably heard from others, the — some of the capacity and other freight issues are not going away. Maybe if you could just touch on some of the off-price industry barriers to entry that you think are important. The light blue area represents the range of Wall Street analysts' earnings estimates for each quarter. Kimberly, whereas on the merchandise margin side, I think, yes, there is definitely some learnings and more tangible things we can look to the future and say, we should be able to use some of that for the future. Over the next few years, I think, yes, some good learning. To provide more detail on the drivers of our above-plan sales in the third quarter, we believe that the combination of improved merchandise mix, higher store inventory levels, our focus on safe in-store shopping experiences, and the restart of our marketing campaigns were all factors. I would say but way more impactful on the store, capturing the market share opportunity with the stores. We believe we have been prudent in our financial approach to planning the business and management of our balance sheet, and we ended the quarter in a very strong liquidity position. TJX reports its quarterly earnings for the first quarter of calendar year 2020 May 19 and Burlington reports the same June 4. You said something about there are limits on how severely you would be willing to shift your mix of goods in the short term as more people stay at home. We just are trying to do as good as — our merchants are doing a very good job on the non-trending areas, you would call them, and really trying to do the best mix of excitement and value. Categories Consumer, Earnings Call Transcripts, TJX Companies Inc.  (NYSE: TJX) Q3 2021 earnings call dated Nov. 18, 2020, Ernie Herrman — Chief Executive Officer and President, Debra McConnell — Senior Vice President, Global Communications, Scott Goldenberg — Senior Executive Vice President, Chief Financial Officer, Kate Fitzsimons — RBC Capital Markets — Analyst, Lorraine Hutchinson — Bank of America Merrill Lynch — Analyst, Kimberly Greenberger — Morgan Stanley — Analyst, Alexandra Walvis — Goldman Sachs — Analyst. Again, we believe our health and safety measures will encourage consumers who are comfortable doing in-store shopping this year to return to our stores. Learn more. So I think there’s a lot of opportunity in the real estate and we’re starting to, as Ernie said, sign those. But having said all that, yes, it was still an extremely strong merchandise margin in the quarter. We are confident in our ability to manage the areas we can control like buying, merchandising, and store operations. In closing, I want to reiterate that the entire management team is laser-focused on navigating through these times to ensure the stability of the business in the short term. ... TJX shares are down more than 20% year-to-date … It is a, I guess. Your line is open. That would be a, to be determined, as we go through the next year. We’ve had to recently slow down all of our buying and most of the divisions and departments within the stores because the availability out there is just as you might expect, it’s more than it was a number of months ago, and I think that just has to do with the cadence of the wholesalers now trying to get back on track and project where retailers are going to be and bring in more goods. Scott, of course, will talk more about this in the tender offer we announced this morning in his financial update in a moment. With such a strong liquidity position, we were very pleased to announce that we expect to reinstate our quarterly dividend in the fourth quarter, subject to Board approval at a rate of $0.26 per share. Shares are up 8.1% since reporting last quarter. If I could just also jump in, Lorraine, one thing we’re conscious about where we think it’s a benefit to us coming out of this is really the last thing we want to give up strangely enough on the COVID cost is because we’re getting a lot of credit with the consumer on our safety measures that we put in and with our associates and then we get this from survey data where we’re surveying constantly in different stores throughout the country and we’re getting high scores, which is one reason we think we’re doing as well as we are actually. So today they feel very appropriate when you walk in our store, inventory levels, which is why we’re saying we’re happy with them, we’re happy with the way the turns are right now. Our marketing organization works very closely with the store operations teams to develop clear and helpful signage to convey our commitment to a safe shopping experience to our customers. Ladies and gentlemen, thank you for standing by. MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Some of that will be reduced as we open up the business, and are spending money on marketing, we will have less savings. The TJX Companies has not formally confirmed its next earnings publication date, but the company's estimated earnings date is Wednesday, February 24th, 2021 based off prior year's report dates. Next, our merchandise margin was up significantly. Right. Obviously, we’re very pleased with the margin coming out of this. Our next question comes from Kimberly Greenberger. Do Not Sell My Information. TJX Companies Inc. Q3 2021 earnings call dated Nov. 18, 2020. Our mission here though is for the future. If approved by the Board in December, the dividend will be paid in March of 2021. We saw strength in our home, beauty, and activewear categories across Marmaxx, TJX Canada, and TJX International. Thanks, and now we will open it up to questions. Now, we are happy to take your questions. So again that’s our other vehicle. Good morning. Now to our third quarter results. And then the others — so but that still leaves you with a chunk of the store that the one reason we were able to achieve a minus 5% is we were not — you can’t drop 80% in those other areas of the store, we wouldn’t do that — we would only run a minus 5%, does that makes sense? It was really about Lorraine the benefit we’re going to see over time. TJX has successfully grown its business through many retail and economic cycles throughout our 43-year history, and I believe that we’ll come out of this health crisis an even stronger Company on the path to even greater success in the future. And then my second question was just a follow-up on the freight discussions. Great. Yeah. In addition to leading to more temporary store closures, this also continues the uncertainty around shopping behavior. You spoke about the $270 million of incremental cost this quarter. Anyone that knows HomeGoods customers and their passion for it knows we are I think going to do a decent amount of sales fairly quickly. Thanks for taking my question here. And I just wanted to quickly follow-up, Ernie, on something you said in your prepared remarks. This flexibility allows us to offer consumers a broad mix of branded merchandise across a very wide consumer demographic. We’re also going to try to help with the profit though. As we keep managing through the global pandemic, I want to share our continued concern about the human impact of COVID, including on our associates and customers. And the HomeGoods — why I’m excited about the HomeGoods online business is we believe it’s very complementary too. They are not extreme in either direction, not too light, not too heavy. So I think we’ve reached the end of our call. That should start to normalize and that — and some of that will flip as we move into next year. Further, these comments and the Q&A that follows are copyrighted today by The TJX Companies, Inc. Any recording, retransmission, reproduction, or other use of the same for profit or otherwise without prior consent of TJX is prohibited and a violation of United States Copyright and other laws. The mark-on was extremely strong and I think…. This is about how drastically would we shift our category mix, right, within the stores and I would tell you that we have, at this point without being too specific, we have been running at a little over half of our business that’s being done at this point, which is not the case a quarter ago in the hot — what you would call the hot trending categories or departments within the business. Lastly, we generated very strong cash flow and further increased our liquidity during the third quarter. As with all our articles, AlphaStreet, Inc. does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company’s SEC filings. Your line is open. While we are emphasizing the high demand categories of home, beauty and activewear, there is a limit to how much of our mix we would shift in the short-term to medium-term. And just given the industry disruption as a whole, what’s your confidence in accelerating market share out of this pandemic? Your line is open. We are in an excellent position to take advantage of real estate availability to open new stores and relocate existing stores. Lastly, we are seeing softer demand for certain product categories given the number of people continuing to spend more time at home. Thanks very much for taking my question. But a bulk of the market share I still think is customers — as witnessed by what the HomeGoods has been doing in comps recently, there’s just a bulk of customers that really want to go shop our stores and the market share opportunity as people get more comfortable for them to come back to our stores. I can tell you this, we’re going to set it up where it’s being done as a — we would call it in conjunction with our HomeGoods business where we’re going to take inventory that’s been bought for HomeGoods and use that to funnel to our online business. TJX provides recordings and handouts of presentations for reference by our investors and other stakeholders. We also benefited from lower capital spending and maintaining tight expense controls during the quarter. Again, what I would say is, we’re hoping it’s going to be complementary to our stores because the way we might orchestrate homegoods.com will be different than some other home retailers, because we have so many brick and mortar HomeGoods stores, where we feel we can encourage a visit based on an online purchase and encourage not just the return but a potential visit to the store as well, as well as obviously do straightforward HomeGoods purchases. See, so, Kimberly I get exactly where you’re getting. So, great question. If we think about the consumer kind of step function migration online during this pandemic, is your confidence based on consumers kind of re-migrating away from online and coming back to stores, I know traffic isn’t quite back to where it is, if you have any data around that or especially given the HomeGoods e-commerce announcement, are you — do you have greater confidence that you’re going to be able to get greater penetration in the digital channels and gain market share that way or is it a combination of both? So I think that will remain probably pretty constant. I’ll start off and then I’ll hand it over to Scott. And then with inventories lean exiting the quarter, what’s the best way to think about merchandise margin opportunities in the fourth quarter? Current and historical p/e ratio for TJX (TJX) from 2006 to 2020. So we’re going to be more efficient in the organization that we set up there from a cost perspective, different than most online businesses when you set it up as an entirely separate team. But again, as we look into next year, feeling very good. MarketBeat does not provide financial advice and does not issue recommendations or offers to buy stock or sell any security. Than its sales and sales across all our divisions well exceeded our plans and responded... Idea Engine three months ago personalized stock ideas based on your portfolio our divisions forward... Crisis and the environment normalizes leading to more temporary store closures, this conference call in your... Mix and put more items into their carts video course that but also strong markdown in! A great job communicating with our vendors and leveraging our global store growth over the long.... Buyers have done a tjx earnings date real estate availability to open new stores and relocate existing stores to what have. 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