We are especially proud of their commitment to our health and safety protocols for both associates and customers. We are truly grateful for their commitment to keeping our business open and moving forward, which requires them to physically go into work. Again we’ve talked about this before that when things normalize, we should get the increased market share because of all the store closures that have happened with brick and mortar, I believe we’re going to capture a lot of that coming out of this. Moving to the bottom line, third quarter earnings per share were $0.71, which was significantly better than we anticipated. Again, as we’ve seen, our cannibalization when we open up a HomeSense right near a HomeGoods has been close to non-existent if anything we’re seeing a slight lift with the HomeGoods, so — because of differentiation. We also benefited from lower capital spending and maintaining tight expense controls during the quarter. Great. Scott, any thoughts at this stage on how much of the headwind that could be in the medium term as we go into next year or a little too early to talk about that? They don’t always want to buy a sofa, a chair, an accessory and they want to fill the fabric. 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. 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. So that’s why I was trying to say we want to limit, we don’t want to artificially swing a pendulum too far which as you know retailers can do that sometimes, can get yourself into trouble. Next year, already in the hopper, well north of 100, and will be higher than that, we’re just not giving out our plans, but as Ernie said, we’re signing stores across all of our divisions. This holiday season, we are planning to offer an expanded assortment of gifts for those shoppers who prefer to shop online. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. Good morning. TJX issues press releases reporting earnings on a quarterly basis. Thank you so much. Now to our third quarter results. So obviously, a lot as I in the prepared remarks said, a lot of our benefit had to do with the A, lower inventory levels but also significantly higher payables balance. We plan to use the proceeds of this offering together with the cash on hand to finance the tender offers, which are conditional on our issuing the bonds. That’s great. Yes, hi. So, if you look at all the store closures that have happened and I’m guessing you’re kind of getting at that issue where there is market share opportunity, but how is our inventory replenishment I think you asked in the beginning and supply constraints etc., that we see getting incrementally better month-by-month as we move forward here. This would represent a 13% increase versus our previous dividend of $0.23 last paid in March of 2020. So I was just wondering what those were and if there will be ongoing savings? So, too early to give numbers for what next year and the year beyond look other than it will be in the triple — will be well north of 100 openings and growing significantly. In our gross profit, we also had savings in some of the things that get booked into their like travel and other things that we had savings where we also had some government credits and other things that get booked into that that we’re also saving. First, we’re expecting an increase in the amount of incremental COVID costs compared to what we saw in the third quarter. Shares of TJX Companies - Get Report rose Wednesday after the TJ Maxx, Marshalls parent posted better-than-expected third-quarter earnings and raised its dividend 13%. Ladies and gentlemen, thank you for standing by. We just are trying to do as good as — our merchants are doing a very good job on the non-trending areas, you would call them, and really trying to do the best mix of excitement and value. TJX Posts Strong Q4 Earnings, Dividend Hike Can you just speak to maybe how you’re evaluating longer-term store count, especially within that division? Ernie, you sound obviously very bullish on HomeGoods market share opportunities. Now, we are happy to take your questions. 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. Definitely. So the average basket is up because they’re curating their business to go a little less. There is a great real estate opportunity out there as we’ve talked about. Get short term trading ideas from the MarketBeat Idea Engine. And now I will turn it back over to Ernie. In closing, I want to reiterate that the entire management team is laser-focused on navigating through these times to ensure the stability of the business in the short term. Thanks very much for taking my question. Lastly, we expect higher incremental freight costs in the fourth quarter due to capacity constraints and higher rates. TJX Companies, Inc. (The) (TJX) - NYSE Next Earnings Date: OS Estimate: Feb. 24, 2021 BO OS Projected Window: Feb. 21, 2021 to Feb. 28, 2021 Maybe if you could just touch on some of the off-price industry barriers to entry that you think are important. TJX Companies, Inc. (The) (TJX) - NYSE Next Earnings Date: OS Estimate: Feb. 24, 2021 BO OS Projected Window: Feb. 21, 2021 to Feb. 28, 2021 Average basket increased and was strong again as customers responded favorably to our fresh mix and put more items into their carts. I had two questions. [Operator Instructions] Our first question comes from Matthew Boss. 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. We will continue to look for opportunities to recognize associates in the fourth quarter for their continued contributions to the business. Our next question comes from Kimberly Greenberger. In total, COVID costs accounted for approximately $270 million of incremental expense in the third quarter. I want to give special recognition to our store, distribution center, and fulfillment center associates. Next, our merchandise margin was up significantly. 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. At this time, all participants are in a listen-only mode. The TJX Companies Earnings Estimates and Actuals by Quarter So, great question. The percentages were less than last year, which was healthy. 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. Our merchandise flow to stores has improved since last quarter and we felt good about bringing customers the terrific values they expect from us in the third quarter. Fourth, we see a significant opportunity to continue our global store growth over the long term. First, we intentionally planned lower in-store inventory levels to accommodate social distancing and to account for the planned decline in our year-over-year sales. 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. Yeah. Our next question comes from Kate Fitzsimons. And I was just wondering if you could just add a little color to that, that’d be great. Offsetting some of that is we’ve had pretty good savings in the third quarter on advertising, travel and other payroll-related areas, some of which we’ve talked about as we do have some closure of our fitting rooms etc. 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. As for our third quarter balance sheet inventory, the decline was due to a combination of items. In Europe, we are leveraging our campaign across each of our European countries. Your line is open. I’d like to start our call today by expressing our sincere gratitude to all of our global associates for their continued hard work and dedication as we navigate the business through this health crisis. Ernie, the long-term benefits in terms of just the positioning of the business was very, very clear. So, it makes a lot of sense. Second, we believe our relationships with vendors will grow even stronger as other retailers close stores. Joining me and Deb on the call is Scott Goldenberg. The TJX Companies has generated $2.67 earnings per share over the last year and currently has a price-to-earnings ratio of 117.5. Second, we plan to flow fresh product multiple times a week to our stores and online throughout the holiday so that shoppers can find new gift giving assortments every time they shop us. At the same time, our sights remain on our strategic vision for the medium- and long-term and capitalizing on the numerous opportunities we see for our business. I thank you all for joining us today. So we’re — our overall DC level inventories will be lighter than at the end of the year than they were in the previous year. I just don’t know if we can move it to that degree on the margin rates over the long, long term. First, we are convinced that we will be a gifting destination again this holiday season. And not to end with negative news on some of the costs, but you alluded to the costs. Please go ahead, sir. Later, we will conduct a question-and-answer session. And the HomeGoods — why I’m excited about the HomeGoods online business is we believe it’s very complementary too. But our merchandise margin was strong across the board, across all our divisions. The mark-on was extremely strong and I think…. We also disclosed this morning that we plan to issue new bonds maturing in seven and 10 years. Next, we believe our holiday marketing campaigns, which started hearing earlier this month, will help drive customer traffic. We believe this will allow us to satisfy our current customer base, which is expanding and continue to attract new shoppers. I think the expense items are a little…. The Earnings Whisper Score gives the statistical odds for the stock ahead of earnings. We are confident in our ability to manage the areas we can control like buying, merchandising, and store operations. TJX annual and quarterly earnings per share history from 2006 to 2020. Further, sales exceeded our plans across each of our divisions. The TJX Companies, Inc. Reports Q2 FY20 Results; EPS of $0.62 at High End of Guidance … 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. And then secondly, will the entirety of the $270 million COVID costs go away post vaccine? While we are emphasizing the high demand categories of home, beauty and activewear, there is a limit to how much of our mix we would shift in the short-term to medium-term. The final question of the day comes from Alexandra Walvis. 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HomeGoods in Canada drove the majority of that as HomeGoods as you’d expect given the comp they had with chasing the inventory we had very few markdowns compared to at any point at HomeGoods. The chart below shows up to four years of a company's earnings history. And then my second question was just a follow-up on the freight discussions. In recognition of their efforts, we have once again awarded a majority of them an appreciation bonus to be paid in November, this month. So we would expect some of the net costs for COVID to go up in the fourth quarter. Sure, Paul. Overall customer traffic was down but improved versus the second quarter. Kimberly, you can see that Scott has been trying to get closer to the merchandising area of reason. Good morning. Our mission here though is for the future. If $750 million of bonds are tendered, the one-time pretax charge could be in excess of $225 million. However, do I think we’ve learned some things from it to probably come out of this and say, hey, we’ve learned some ways to buy and work with certain vendors and inventory levels, by the way Kimberly, to your point that maybe we can help with our markdown rates even a little more than we thought? Hey guys, thanks. It seems like certainly you feel pretty optimistic about some of the opportunities out there? While overall inventory was down, in-store inventory levels improved significantly compared to the second quarter, and our closed store, we want them to be in this environment. First, we are convinced that our great brands and great values concept is an enduring retail formula that we will continue to be a major draw for consumers. So, at this point for the fourth quarter and then we’ll address it as we get to year-end, we would expect to have the full amount of COVID costs continue to be implemented. While we strive to produce the best transcripts, it may contain misspellings and other inaccuracies. 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. Learn more. 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. Lastly, e-commerce, we continue to add new categories and brands to our U.S. and U.K. online businesses. So today they feel very appropriate when you walk in our store, inventory levels, which is why we’re saying we’re happy with them, we’re happy with the way the turns are right now. Your line is open. The TJX Companies, Inc. Reports Q3 FY21 Results; Reports Above-Plan Overall Open-Only Comp Store Sales of Down 5%; Earnings Per Share of $.71; Plans to … Fundamental company data provided by Morningstar and Zacks Investment Research. [Operator Instructions] As a reminder, this conference call is being recorded November, 18, 2020. And obviously here in Q3, we saw exactly how resilient the business is. As with all our articles, AlphaStreet, Inc. does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company’s SEC filings. Overall, open-only comp store sales were down 5% and earnings per share were $0.71. But on the other hand, there are costs such as whether it’s wages in the distribution center or freight costs which are to be determined whether they are going to — are they incrementally up and what that growth will be like. One of the dynamics that’s going on to help offset the COVID cost is the extremely healthy merchandise margin, which the question is when we come out of COVID, will that still be to that degree and it’s kind of a — you’re in a weird situation where we’re taking advantage of coming out of COVID and we’re still doing this now as well as we look out what we’ve placed. So what I was trying to bring as a balance and in a treasure hunt shopping experience, we wouldn’t want our store — we wouldn’t want a TJ Maxx or Marshalls to be a home-only store, right, walk-in and that two-thirds of the store is home, that would not be a healthy thing. And I think that in terms of the fourth quarter. Current and historical p/e ratio for TJX (TJX) from 2006 to 2020. I wanted to ask about SG&A. Analysts polled by Investing.com anticipated EPS of $0.4 on revenue of $9.37B. The apparel and home fashions retailer reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.31. And just Matt to just go on a little in terms of the rest of the merchandise margin, there was the timing of the markdowns so that was significant worth approximately 50 basis points that benefited us in the third quarter. In addition to leading to more temporary store closures, this also continues the uncertainty around shopping behavior. Welcome to The TJX Companies First Quarter Fiscal 2021 Financial Results Conference Call. Lastly, we see a great opportunity to capture additional share of the home category, which has been strong for us for many, many years. They are not extreme in either direction, not too light, not too heavy. Base, which is expanding and continue to add more stocks to account... Financial terms, types of investments, trading strategies and more I will turn it back to. 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