TJX Companies Reports 3% Sales Decline In Q3; Picks New CFO

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  • TJX Companies Inc (NYSE: TJX) reported a third-quarter FY23 sales decline of 3% year-on-year to $12.17 billion, missing the consensus of $12.30 billion.
  • The U.S. comparable store sales decreased 2% versus last year, with Marmaxx store sales increasing 3% and HomeGoods declining 16%.
  • The gross profit margin for the quarter contracted 40 basis points to 29.1%. Selling, general and administrative expenses fell 4.9% to $2.2 billion.
  • The company held $3.4 billion in cash and equivalents as of October 29, …

Full story available on Benzinga.com

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