In full transparency, the following is a press release from TJX Companies submitted to SOURCE media through its business wire service.
FRAMINGHAM – The TJX Companies announced its Board of Directors has reinstated its share repurchase program.
The Company plans to repurchase approximately $1 billion to $1.25 billion of TJX stock during the fiscal year ending January 29, 2022, and currently has approximately $3 billion remaining under its existing stock repurchase programs.
TJX also announced the declaration of a quarterly dividend on its common stock of $.26 per share payable September 2, 2021, to shareholders of record on August 12, 2021.
The Company continues to see second quarter overall open-only comp store sales trends similar to the first quarter.
Ernie Herrman, Chief Executive Officer and President of The TJX Companies, said “We are pleased to announce the reinstatement of our significant share repurchase program together with the declaration of our quarterly dividend. We are also pleased to see continued momentum in our business as second quarter overall open-only comp store sales trends remain similar to the first quarter.”
“Throughout the global pandemic, we have remained focused on ensuring the financial stability of the Company in order to emerge from the health crisis in a position of strength for our Associates, customers, shareholders, and other business associates. The actions we announced today demonstrate our confidence in our business and our outlook for successful growth over the long term,” said Herrman. “We see many opportunities to capture additional market share in the future, and with our very strong balance sheet and ability to generate cash flow, we are very pleased to again be in a position of significantly investing in our business and returning substantial cash to our shareholders.”
The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. As of May 1, 2021, the end of the Company’s first quarter, the Company operated a total of 4,639 stores in nine countries, the United States, Canada, the United Kingdom, Ireland, Germany, Poland, Austria, the Netherlands, and Australia, and four e-commerce sites. These include 1,282 T.J. Maxx, 1,147 Marshalls, 843 HomeGoods, 52 Sierra, and 39 Homesense stores, as well as tjmaxx.com, marshalls.com, and sierra.com, in the United States; 284 Winners, 143 HomeSense, and 103 Marshalls stores in Canada; 604 T.K. Maxx and 78 Homesense stores, as well as tkmaxx.com, in Europe; and 64 T.K. Maxx stores in Australia. The company has its worldwide HQ in Framingham.