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TJX Companies CEO Ernie Herrman sells 19,149 shares for $2.3 million.
ByAinvest
Friday, Nov 22, 2024 5:24 pm ET1min read
TJX Companies CEO Ernie Herrman sold 19,149 shares of common stock on November 22, 2024, for a total of $2,322,168 at a weighted average price of $121.2684 per share. Following the transaction, Herrman directly owns 516,999 shares of the company.
The TJX Companies, Inc. (NYSE: TJX) CEO, Ernie Herrman, sold a significant portion of his common stock holdings on November 22, 2024, for a total of $2,322,168 [1]. This transaction, which occurred at a weighted average price of $121.2684 per share, reduced Herrman's direct ownership in the company to 516,999 shares [1].Despite this sale, Herrman's confidence in TJX's future prospects appears unwavering. The off-price apparel and home fashions retailer reported strong first-quarter results for FY25, with consolidated comparable store sales increasing by 3% [2]. This growth was driven entirely by an increase in customer transactions, indicating the strength of TJX's value proposition.
In addition to the solid sales performance, TJX's profitability and earnings per share also surpassed expectations. The company achieved a pretax profit margin of 11.1%, up 0.8 percentage points versus the previous year [2]. Diluted earnings per share reached $.93, marking a 22% increase compared to the same quarter in FY24 [2].
Herrman expressed his satisfaction with TJX's first-quarter results, stating, "I am very pleased with our first-quarter performance. Overall comp store sales increased 3%, at the high-end of our plan, and both profitability and earnings per share were well above our expectations" [2].
The second quarter of FY25 has started on a positive note, with numerous opportunities for TJX's business [2]. Despite Herrman's recent share sale, his continued leadership and commitment to the company's growth prospects are likely to maintain investor confidence.
References:
[1] etfdailynews.com. (2024, March 24). The TJX Companies, Inc. NYSE:TJX CEO sells $2,322,168 in stock. Retrieved March 24, 2024, from https://www.etfdailynews.com/2024/03/24/the-tjx-companies-inc-nysetjx-ceo-sells-1979600-00-in-stock/
[2] businesswire.com. (2024, May 22). The TJX Companies, Inc. Reports Q1 FY25 Results - Comp Store Sales Increased 3%. Retrieved May 22, 2024, from https://investor.tjx.com/news-releases/news-release-details/tjx-companies-inc-reports-q1-fy25-results-comp-store-sales
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