Lastly, we expect higher incremental freight costs in the fourth quarter due to capacity constraints and higher rates. Please go ahead, sir. So it’s a little more volatile short term. So if you’re a key branded player and you want to deal with a solid retailer who is also again not very visible with the product, right, and it’s part of a treasure hunt shopping experience, I believe there will be some benefits still going forward. Markdowns were also better than anticipated, as sales exceeded our plans and consumers responded favorably to our fresh merchandise mix. The TJX Companies, Inc. Reports Q2 FY20 Results; EPS of $0.62 at High End of Guidance … View our full suite of financial calendars and market data tables, all for free. 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. We are highlighting our terrific gift assortments and excellent values with messaging such as spend less, gift better and big love, small prices. So we’re very excited about it. First, we’re expecting an increase in the amount of incremental COVID costs compared to what we saw in the third quarter. TJX Companies stock touched a new 52-week high of $64.95 on Wednesday. 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. Shares are up 8.1% since reporting last quarter. I think we’re just doing a good job paying for it to get the inventory into our locations this year. On the day of each earnings release, TJX expects to hold a conference call with analysts to discuss results, operations, and business trends presented in a webcast on this website. So that was very aggressive, we got there very quickly. We see the power of our global sourcing from a universe of over 21,000 vendors as a tremendous advantage. 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. And so we know we’re spending to do that. Second, there will be a negative impact due to the temporary store closings, which are most — currently mostly in Europe. TJX shares are … It is a way — because it’s not just about the numbers to your point, it’s about the quality of who we’re opening up. Thanks, good morning. That’s great. Long term, I think, as businesses start to get in and the vaccines kick in, I guess you could argue people will be less at home more, but I do believe businesses across the country and in other countries [Indecipherable] x amount of employees stay at home that weren’t at home. The price to earnings ratio is calculated by taking the latest closing price and dividing it by the most recent earnings per share (EPS) number. So again that’s our other vehicle. [Operator Instructions] As a reminder, this conference call is being recorded November, 18, 2020. I wanted to ask a follow-up on your confidence in the market share opportunity longer term. So I was just wondering what those were and if there will be ongoing savings? Now, I’ll turn the call over to Scott for a financial update and then we’ll open it up for questions. Do we believe there is some of that opportunity in the future? We will continue to look for opportunities to recognize associates in the fourth quarter for their continued contributions to the business. At this time, all participants are in a listen-only mode. TJX Companies hasn't issued any revenue guidance for the time being. TJX annual and quarterly earnings per share history from 2006 to 2020. Net sales for the third quarter of Fiscal 2021 were $10.1 billion. Scott, of course, will talk more about this in the tender offer we announced this morning in his financial update in a moment. Thanks. And our treasure hunt shopping experience offers customers that element of discovery when they’re looking for some inspiration for what to buy for the people on their holiday list. That’s great. As a point of reference for the two weeks of the fourth quarter, overall open-only comp stores were down 7%, similar to the trend we saw in the last week of October. 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. The consensus earnings estimate was $0.41 per share on revenue of $9.3 billion. Learn about financial terms, types of investments, trading strategies and more. Yeah. 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. Scott Goldenberg — Senior Executive Vice President, Chief Financial Officer. The light blue area represents the range of Wall Street analysts' earnings estimates for each quarter. I’m not going to take the bait on that on the call, but also I think going back to what Ernie was talking about market share opportunities. I thank you all for joining us today. So we’re still again very pretty much a year away from the launch of this. We’re going to operate this differently. As to the cadence of sales, overall open-only comp store sales were sluggish in August and improved significantly for the remainder of the quarter, with September being the strongest month. So I think there’s a lot of opportunity in the real estate and we’re starting to, as Ernie said, sign those. We see some consumers are still reluctant to shop in stores and others may make fewer shopping trips this holiday season. We feel very good about what we have planned this holiday season. Yeah. 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. Your line is open. I think it’s across the board. Yeah, freight costs will be going up. Analysts expect Ross Stores to report earnings of 12 cents per share on sales of $2.2 billion, down from $3.8 billion in the first quarter of 2019. That would be a, to be determined, as we go through the next year. You spoke about the $270 million of incremental cost this quarter. 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. you would call it, a delever right, Scott to begin with without a doubt. I’ll start off and then I’ll hand it over to Scott. Want to see which stocks are moving? As for our third quarter balance sheet inventory, the decline was due to a combination of items. [Operator Instructions] I would like to turn the conference call over to Mr. Ernie Herrman, Chief Executive Officer and President of The TJX Companies, Inc. So we are — so this is so early, so we’re going to — we’re planning right now on launching homegoods.com in the back half of next year. It’s great to see consumer seeking out our banners for the categories that they currently deem important. Overall customer traffic was down but improved versus the second quarter. We have a proven retail business model and we believe we are set up very well for continued success once this health crisis is behind us. Now we’ve had some of these more special guys. We believe our health and safety focus will be important to consumers as they decide where they are comfortable doing their in-store shopping this holiday season and beyond. This would represent a 13% increase versus our previous dividend of $0.23 last paid in March of 2020. View which stocks are hot on social media with MarketBeat's trending stocks report. And Paul, in terms of the overall inventory levels, I think, as Ernie said, we started to get to the level at the stores that we wanted to be. As we mentioned, we have a number of stores, over 400 stores closed in Europe right now. How … While hard to quantify, we believe much of this improvement was due to a combination of a more seasonally appropriate merchandise mix and improved in-store inventory levels as the quarter progressed. We believe this will allow us to satisfy our current customer base, which is expanding and continue to attract new shoppers. Your line is open. Moreover, earnings increased year over year. So, great question. Now to our third quarter results. © 2020 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. We believe that our aggressive expansion of HomeGoods over the past five years has positioned us very well to capture outsized home share in this environment. I wanted to ask about SG&A. And Scott, payables, inventory relationship looks a little out of whack, just curious if that’s something that’ll go back into normal, if so, when, and where there were something that has changed as a result of this environment and that will continue to benefit you in future quarters? The forward-looking statements we make today about the Company’s results and plans are subject to risks and uncertainties that could cause the actual results and the implementation of the Company’s plans to vary materially. All it needs is a few point swing in consumer comfort, the consumer feeling more comfortable to shop brick and mortar and that literally translates into a few point increased trend in our sales. We believe we are in excellent shape to build on our leadership positions in the U.S., Canada, Europe and Australia over the long term. However, I’m going to give you a complete 180 and just say we are very bullish on the longer-term outlook because that feels significantly better than it did at the beginning of Q3 when we didn’t know where all of this was heading. Ladies and gentlemen, thank you for standing by. Upgrade to MarketBeat Daily Premium to add more stocks to your watchlist. Sure, Paul. Well, the last part I’ll have Ernie just jump in right there because I think I’ll just briefly and I’ll get back after Ernie talks. Scott? These risks are discussed in the Company’s SEC filings, including, without limitation, the Form 10-K filed March 27, 2020 and the Form 10-Q filed August 28, 2020. Our buyers have done a terrific job delivering great merchandise and values throughout the store for all of our categories, including both the hot trending categories and the softer trending areas. I think on the expense side, it’s a mixed bag. This will probably start to — we will hope go down as we move through next year, but it could be 30 basis points to 40 basis points of incremental deleverage in the fourth quarter again, but I think our guys have been doing a great job of getting the product and delivering it to our distribution centers. In Europe, we are leveraging our campaign across each of our European countries. Revenue was seen … Thank you. We will be updating you again on our fourth quarter earnings call in February. The Algorithm predicts "% Predicted Move After Earnings Announcement" (PMAEA) for TJX three weeks prior to earnings date. Additionally, while we have approved the publishing of a transcript of this call by a third-party, we take no responsibility for inaccuracies that may appear in that transcript. Moving to the business update, I’m going to start with a recap of our third quarter results, followed by some comments on the fourth quarter, and then move to the market share opportunities we see for TJX in the medium and the long term. We will disclose the results of the tender offers and the approximate size of the extinguishment charge when available. So we will not have any tangible numbers that we will be giving out on that at this point. Thank you for that color. And I was just wondering if you could just add a little color to that, that’d be great. Yeah. Currently, the vast majority of these are in Europe, with only a very small number in North America. Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools: You have already added five stocks to your watchlist. TJX Companies (TJX) reported 3rd Quarter October 2020 earnings of $0.71 per share on revenue of $10.1 billion. Get daily stock ideas top-performing Wall Street analysts. Your line is open. We are prioritizing our investments in our associates, stores, supply chain and systems to strengthen our infrastructure and positioning to execute on our growth plans. TJX issues press releases reporting earnings on a quarterly basis. Stay up to date with lastest Earnings Announcements for The TJX Companies, Inc. from Zacks Investment Research The third quarter marked the first quarter this year that nearly all of our stores were open. As a reminder, regardless of comp sales trends, overall sales for the fourth quarter will be negatively impacted due to temporary store closures. And there were so much — it’s a bit of a tiger by the tail I would call with HomeGoods. The Silver Lining in TJX Companies’ Wretched Earnings Report Sales fell off a cliff, but the off-price retailer is having no problem securing inventory for its post-lockdown recovery. Maybe if you could just touch on some of the off-price industry barriers to entry that you think are important. But in terms of the COVID costs, at this point it’s too early to say that we have no plans at this point to be reducing our COVID costs. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. TJX announced earnings per share of $0.71 on revenue of $10.12B. Ernie, you sound obviously very bullish on HomeGoods market share opportunities. This was primarily due to an increase in working capital and strong net income. So that’s really what I was referring to. TJX Companies (TJX) reports earnings on 2/17/2021. Ladies and gentlemen, thank you for standing by. The Earnings Whisper number was $0.43 per share. First is the recent resurgence of COVID cases and the consumer impact. Good question. The passion of our HomeGoods customers is terrific to see, and we are looking forward to bringing them our great brands and values 24 hours a day, seven days a week. This transcript is provided as is without express or implied warranties of any kind. So to Scott’s point, we are not — on the COVID costs, we’re not letting go off those too quickly because we think it’s helping our top line. So, hope that answers your question with regard to inventory replenishment, supply, where we think the short term is versus the long term. Next, we believe our holiday marketing campaigns, which started hearing earlier this month, will help drive customer traffic. If approved by the Board in December, the dividend will be paid in March of 2021. The dark blue line represents the company's actual earnings per share. 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