The TJX Companies, Inc. (NYSE:TJX) Q4 2024 Results Conference Call February 28, 2024 11:00 AM ET

Company Participants

Ernie Herrman - CEO, President & Director

Deb McConnell - SVP, Global Communications

John Klinger - EVP & CFO

Conference Call Participants

Paul Lejuez - Citigroup

Brooke Roach - Goldman Sachs

Matthew Boss - JPMorgan

Lorraine Hutchinson - Bank of America

Jay Sole - UBS

John Kernan - TD Cowen

Alex Straton - Morgan Stanley

Michael Binetti - Evercore ISI

Marni Shapiro - The Retail Tracker

Operator

Ladies and gentlemen, thank you for standing by. Welcome to The TJX Companies Fourth Quarter Fiscal 2024 Financial Results Conference Call. [Operator Instructions] As a reminder, this conference call is being recorded as of today, February 28, 2024.

I would now like to turn the conference call over to Mr. Ernie Herrman, Chief Executive Officer and President of The TJX Companies, Inc. Please go ahead, sir.

Ernie Herrman

Thanks, Ivy. Before we begin, Deb has some opening comments.

Deb McConnell

Thank you, Ernie, and good morning. Today's call is being recorded and includes forward-looking statements about our results and plans. These statements are subject to risks and uncertainties that could cause the actual results to vary materially from these statements including, among others, the factors identified in our filings with the SEC.

Please review our press release for a cautionary statement regarding forward-looking statements as well as the full safe harbor statements included in the Investors section of our website, tjx.com. We have also detailed the impact of foreign exchange on our consolidated results and our international divisions in today's press release and in the Investors section of tjx.com, along with reconciliations to non-GAAP measures we discuss.

Thank you, and now I'll turn it back over to Ernie.

Ernie Herrman

Good morning. Joining me and Deb on the call is John. I want to start today by recognizing all of our global associates for their excellent work in 2023. I truly appreciate their continued commitment to TJX and their focus on our customers. I especially want to thank our store, distribution and fulfillment center associates for their hard work and dedication to our company every day.

Now to an overview of our results beginning with the fourth quarter. I am extremely pleased with our very strong finish to 2023. Our fourth quarter sales profitability and earnings per share all exceeded our expectations. Overall comp sales were up a strong 5% and were entirely driven by growth in customer transactions. This is great to see as it underscores our ability to continue gaining market share in all of our geographies.