For the fourth quarter of Fiscal 2013, the Company’s consolidated pretax profit margin was 12.5%, up 1.2 percentage points over the prior year’s pretax profit margin. This increase was primarily driven by improved merchandise margins with some expense leverage on the above-plan sales. The 53 rd week in Fiscal 2013 positively impacted fourth quarter pretax margins by approximately 0.6 percentage points.The gross profit margin for the fourth quarter of Fiscal 2013 was 28.6%, 1.4 percentage points above the prior year. The increase was primarily driven by merchandise margin improvement as well as expense leverage on the above-plan sales. Selling, general and administrative costs as a percent of sales were 16.0% in the fourth quarter, a 0.2 percentage point increase over the prior year’s ratio of 15.8% largely due to the Company’s contribution to The TJX Foundation, higher incentive compensation accruals with the Company’s above-plan results and transaction expenses related to the Company's acquisition of Sierra Trading Post.
The TJX Companies, Inc. Reports 28% Adjusted EPS Growth On $25.9 Billion In Sales In Fiscal 2013; Announces New $1.5 Billion Stock Repurchase Program; Plans 26% Increase In Dividend
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