TJX Companies posts drop in Q4 sales and profit

The TJX Companies, Inc. net sales for the fourth quarter were 10.9 billion dollars compared to 12.2 billion dollars in the fourth quarter last year, with overall open-only comp store sales down 3 percent versus last year. Net income for the fourth quarter was 326 million dollars and diluted earnings per share were 27 cents. The company said that the fourth quarter results were negatively impacted by the temporary closure of some of its stores due to the Covid-19 global pandemic. For fiscal 2021, net sales were 32.1 billion dollars compared to 41.7 billion dollars in fiscal 2020 and overall open-only comp store sales were down 4 percent versus last year. Net income was 90 million dollars and diluted earnings per share were 07 cents.