TJX Has Runway Back to Its Highs, Jim Cramer Says

Katherine Ross

TJX reported earnings on Thursday, May 21. 

In the fiscal first quarter of 2021, the company posted revenue of $4.409 billion, less than half the year-ago total of $9.278 billion. Analysts polled by Investing.com predicted revenue of $5.82 billion for the latest quarter.

TJX registered a net loss of $887.489 million, or 74 cents a share, in the latest quarter, swinging from a profit of $700.178 million, or 57 cents, a year ago. Analysts forecast the latest earnings per share figure would total negative 2 cents.

“The company’s first-quarter results were negatively impacted by the temporary closure of its stores for approximately half of the quarter due to the Covid-19 pandemic,” TJX said in a statement.

TJX CEO Ernie Herrman sees some promising signs. 

“We have been pleased to reopen as many stores as we have in May, as well as our e-commerce websites,” he said. “Although it’s still early and the retail environment remains uncertain, we have been encouraged with the very strong sales we have seen with our initial re-openings.”

Jim Cramer says that TJX now has a "runway to its highs."

You can follow Jim Cramer and Katherine Ross on Twitter at @JimCramer and @byKatherineRoss. Read more from Katherine Ross here.

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