Latest news with #Herrman
CNBC
6 days ago
- Business
- CNBC
Jim Cramer says TJX stock is an 'anomaly' right now — and a bargain
CNBC's Jim Cramer says shares of off-price retailer TJX are a bargain after unfairly taking a beating over the past couple weeks. "The stock got hit off one of the best quarters, and that's just not right," Jim said Monday on "Squawk on the Street." "What we're looking for is trying to find which stocks are anomalies. This one is the anomaly." TJX, the parent company of T.J. Maxx, Marshalls, and HomeGoods, beat expectations on both revenue and earnings in its first quarter of fiscal 2026. Management also reiterated its full-year guidance. Yet shares have dropped about 6% since the day before its May 21 report. Cramer has pointed out many times that this kind of post-earnings dip isn't new for TJX. Management tends to under promise with cautious guidance that underwhelms investors. But then it typically exceeds expectations when results come in. As we noted in our TJX earnings analysis at the time, the sell-off presented a buying opportunity — and still does. "The stock is still too low as far as I am concerned," Jim wrote in this week's Sunday column . TJX stands out in a retail landscape that is "mighty hard to trust" right now, he added, with its ability to cut or maintain prices even as other retailers are forced to raise them. So far this year, TJX stock is up 4.3%, way ahead of the S & P's Retail Select Industry Index , which is down 4.7%, and outperforming the S & P 500's modest 0.5% gain. As of Monday, the stock traded flat near $126 per share, still about 7% below its 52-week high of $135 made on May 20 just before earnings. TJX YTD mountain TJX stock performance YTD. TJX CEO Ernie Herrman made the company's strategy clear on the post-earnings webcast: keep prices low. Herrman stated that TJX aims to maintain a significant gap between their prices versus those at traditional retailers. He emphasized the company's ability to take advantage of the "chaos" in retail by sourcing merchandise more profitably and passing those savings on to customers is its key competitive edge. While Herrman noted "the tariff situation might make things obviously more complicated," he's confident the company can maintain its value proposition. That "chaos" Herrman described is being driven by President Donald Trump's unpredictable tariff policy marked by abrupt changes. That's creating huge uncertainty for major retailers struggling to maintain favorable pricing for consumers. Walmart warned it will have to raise prices on many items because of tariffs. Target will also resort to price increases on certain products to help offset tariff costs. Abercrombie & Fitch , Macy's and Best Buy cut their profit outlooks, while American Eagle , Canada Goose , Ross and Mattel pulled their full-year guidance. TJX is much better positioned. JPMorgan analyst Matthew Boss on Monday raised the firm's price target to $145 from $130, a 15% upside as of Monday's price, while keeping a buy rating. In the note, Boss said he had increased "confidence in continued global market share gains across categories" after meeting with the company's management team. He sees a "trifecta" of drivers in the second half of TJX's 2026 fiscal year and into fiscal 2027, including same-store sales, improving merchandise margin and better earnings flow-through. CEO Herrman's comments that industry inventory is "off the charts" also stood out to Boss. That excess supply gives TJX an advantage to scoop up high-quality goods at a deep discounts and don't have to rely on price hikes to offset tariff costs. In fact, management told Boss that the company's No.1 weapon against the current tariff backdrop is its liquidity and open-to-buy position, meaning the financial flexibility to jump on deals. TJX's scale helps here. It sources from 21,000 vendors in more than 100 countries, fueling a constant stream of merchandise and the kind of treasure hunt experience that drives store traffic and same-store sales. Jim Cramer praised the call, noting the JPMorgan analyst "has timed this push well" after the stock has taken a big hit. Looking ahead, TJX CEO Herrman said the current second quarter is already off to a strong start, focused on value, flexible and opportunistic buying that could set it up for more gains ahead. Investors like us are willing to look past the knee-jerk sell-off and stick with this long-term growth story in an unpredictable retail industry. (Jim Cramer's Charitable Trust is long TJX. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
Business Insider
24-05-2025
- Business
- Business Insider
TJX CEO wants you to find something on the rack that 'almost feels too cheap'
It's an experience that almost anyone shopping at TJ Maxx, Marshalls, Sierra, or Home Goods eventually has: you're browsing items, see a price tag, and think, "that can't be right." Before you know it, you're a full-blown Maxxinista. As it happens, TJX CEO Ernie Herrman said the company wants you to feel a little suspicious when you encounter a sharp deal. "We want a customer to actually say, 'That almost feels too cheap,'" he said in a quarterly earnings call Wednesday. "One out of every 10 hangers I want a customer saying, 'Boy, that that almost feels too inexpensive,' strangely enough." The playbook has been working for the company, which reported strong sales and traffic gains at its family of brands despite a broader slowdown in apparel and housewares categories in recent years. Apart from a bad-weather month in February, monthly visits to TJ Maxx and Marshalls were up roughly 6% to 8% in January, March, and April of this year versus last year, according to foot traffic data from Visits to traditional apparel stores have been basically flat or down for the period. also found that not only do shoppers visit more often, they spend more time in the stores as they hunt for those surprising deals. "A significant part of this success may stem from the segment's inherent 'treasure-hunt' experience — off-price shopping cultivates a browsing mentality, encouraging visitors to linger and explore the constantly changing inventory," Bracha Arnold wrote. This year so far, found TJ Maxx shoppers spent an average of 40.3 minutes in the store, while shoppers at traditional apparel chains averaged 33.3 minutes — a difference of about 20% more time spent trying to find that suspiciously good deal. Of course, there's a lot more to the equation than simply offering low prices. "Value isn't just a function of competitive prices," Global Data retail analyst Neil Saunders said in a note. "It also comes from buying well and meeting customer needs. In our view, TJX merchants are excellent at doing at that and they are one of the key assets that will propel the company forward." On the earnings call, Herrman said TJX has a team of over 1,300 buyers who have relationships with more than 21,000 vendors across more than 100 countries around the world. And while the company is not immune from tariff impacts (Herrman said TJX directly imports about 10% of its goods), much of its sourcing is downstream from other brands and retailers that will likely bear a fair amount of the costs, rather than TJX itself. Global trade chaos now represents a key opportunity for TJX to load up on interesting merchandise, since unexpected inventory surpluses are where off-price retail shines. Jefferies retail analyst Corey Tarlowe found that retail inventories are on the rise for the first time in two years, reversing a trend of leaner, more disciplined inventory strategies in the post-COVID era. "Given these trends, the availability for TJX should remain robust. TJX management noted inventory availability in the marketplace is better than usual," Tarlowe wrote. On the earnings call, Herrman said his buyers aren't tasked with a complex set of price sheets or profit margin targets. Their primary task is finding exciting products they can offer at a compelling discount to the full-price store around the corner. "Our only contract to the customer is that we will have great value on the goods that we put out there, and it'll be below the out-the-door price of traditional retailers," he said.
Yahoo
07-04-2025
- Health
- Yahoo
Emporia student's health emergency compels Legislature to invest in planning, training
Reagan Herrman, a 15-year-old Emporia resident, survived an episode of cardiac arrest during a 2023 basketball game when trained personnel made use of an automated external defibrillator that restarted her heart. She advocates for cardiac emergency planning in public schools and funding for districts to acquire AED equipment and training. (Max McCoy/Kansas Reflector) TOPEKA — Reagan Herrman's heart condition remained hidden until halfway through a summer youth basketball game at Washburn University when she became short of breath and struggled to reach the team's bench. 'I went behind the bench, because my coach was also my dad. He told me to go walk, to walk it off. So I did and sat on the bench. Just as soon as I sat down, as I remember it, it all went black,' she said. Herrman collapsed and went into cardiac arrest. Health professionals and others trained in CPR jumped into action. Eventually, a portable medical device known as an AED, or automated external defibrillator, was deployed. It delivered a single electric shock that restored her heartbeat. 'If the shock wasn't delivered, I don't think I would have made it,' she said on the Kansas Reflector podcast. 'I remember waking up, being out of breath, breathing really heavy and then seeing people all around me. I heard voices and shouting and see people talking to me. Like 'Reagan, can you hear me?' Then I saw my mom, which she says I said, 'I love you.' ' Herrman's heart stopped for approximately four minutes on a Topeka basketball court on July 16, 2023. She was unresponsive and began to turn blue. The university's preparation for health emergencies and the availability of a defibrillator saved the life of the then-13 year old Emporia resident. She was airlifted to a hospital and spent a week in a cardiac intensive care unit. Doctors diagnosed Herrman with CPVT, or catecholaminergic polymorphic ventricular tachycardia, which is an inherited condition causing sudden heart rhythm disturbances in otherwise healthy children. She recovered and, eventually, was cleared to resume sports activities. But Herrman's story didn't end there. The young cardiac-arrest survivor served as motivation for the Kansas Legislature to pass a 2024 law requiring public schools to develop cardiac emergency response plans that included CPR and AED training of key personnel. It was modeled after the Emporia school district's decision in wake of Herrman's experience to add 14 new AEDs to district buildings, provide training for school personnel and coaches, and install 120 signs to point people to lifesaving equipment. 'It is our hope that Reagan's story can serve as a catalyst for change in Kansas' approach to AED accessibility,' her mother, Amanda Herrman, told House and Senate lawmakers. 'Reagan's experience underscores the critical importance of this initiative. Our family feels blessed for the fortunate outcome that day, knowing that many other families may not have such a story to tell.' That bill was supported by other Kansans with firsthand knowledge of cardiac arrest. The legislation required public schools to create cardiac emergency response plans and work to outfit buildings with AEDs. The bill received broad support in the House and Senate. Reagan Herrman, who didn't know CPR before enduring her own cardiac emergency, was in the Capitol for signing of the bill. During the 2025 legislative session, the American Heart Association worked to convince the Legislature to appropriate $1.5 million to pay for CPR and AED training programs and the equipment purchases. That funding was included in a large budget bill awaiting action by Gov. Laura Kelly. Kari Rinker, who works as a lobbyist for the American Heart Association, was involved in rallying support for additional funding to help Kansas public schools comply with the emergency training standard. 'There have been challenges in some communities getting this in place. Especially rural communities might have fewer training resources,' Rinker said. Access to additional training and positioning of equipment in schools could reduce the hesitancy some people have about jumping into an emergency, she said. Rinker said the survival rate of people who experienced cardiac arrest was around 10% without an immediate response from people on the scene. If CPR was performed quickly, she said, the survival rate could be doubled or tripled. When a child goes into cardiac arrest in a school with AEDs onsite, however, approximately 70% survive. 'Yet, fewer than 50% of people say they are confident to step in and perform this function. We want to improve that. We want to create a nation of lifesavers,' she said. The $1.5 million in Senate Bill 125 was significant because a separate grant opportunity for schools to acquire AED equipment or training was eliminated due to a technicality. Reagan Herrman said, if given a chance, would urge the governor to support emergency medical funding for Kansas schools. 'I think this is just icing on the cake to finish what we started,' she said. 'I'd say, honestly, it is a dream coming true.'
Yahoo
01-04-2025
- Business
- Yahoo
TJX boosts quarterly dividend by 13% to 42.50c per share
TJX (TJX) announced that its board has raised the amount of its quarterly dividend by 13% from the last dividend paid. The board declared a regular quarterly dividend in the amount of 42.50c per share, payable June 5, to shareholders of record on May 15. Ernie Herrman, CEO of TJX, stated, 'I am pleased to announce that our Board of Directors has approved a 13% increase in our quarterly dividend. This marks our 28th dividend increase over the last 29 years. Over this period, TJX's dividend has grown at a compound annual rate of 20%. In addition, we plan to continue our significant share buyback program, with approximately $2.0 to $2.5 billion of repurchases planned for Fiscal 2026. These actions underscore our confidence in our ability to continue driving sales and profitability, and delivering strong cash flow. All of this enables us to simultaneously reinvest in the growth of the business and return significant value to our shareholders.' Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks. Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See Insiders' Hot Stocks on TipRanks >> Read More on TJX: Disclaimer & DisclosureReport an Issue Strong Buy Recommendation for TJX Companies: Competitive Advantages and Growth Potential Highlighted Insider Moves: Clean Energy, Warner Bros, Clover Health, Corning, TJX TJX CEO Herrman sells 23,428 common shares TJX put volume heavy and directionally bearish TJX a growth stock with 'surprising' upside potential, says UBS Sign in to access your portfolio
The Independent
14-02-2025
- Politics
- The Independent
Munich attack suspect: What we know about Afghan asylum-seeker arrested after car driven into crowd
An attack in Munich left 28 people injured when a car was rammed into a crowd of people on Thursday. Two of the victims were left fighting for life after a Mini Cooper drove into a group of trade union strikers on Seidlstrasse at around 10:30am. Anti-terror police in Germany are investigating the incident, and attention is turning to the suspect and their alleged motives. A 24-year-old Afghan asylum-seeker was arrested by police soon after the attack. The general prosecutor's office in Munich identified the suspect as Farhad Noori, according to the Reuters news agency. The incident took place a mile away from the venue where the Munich Security Conference is being held on Friday. US vice president JD Vance and Ukrainian president Volodymyr Zelensky both arrive in the city on Thursday, though at this stage authorities do not believe the attack is connected to the event. Here is everything we know about the person suspected of being behind the Munich car attack so far. Who is the suspect? Farhad Noori, born in Kabul in 2001, first arrived in Germany from Afghanistan at the end of 2016, according to Der Spiegel. The Federal Office for Migration and Refugees reportedly rejected his asylum application. Bavaria's Interior Minister Joachim Herrmann confirmed that he had arrived in the country as an asylum-seeker adding that his application had 'probably' been rejected, Die Zeit reported. But Mr Herrman added that the suspect could not be deported because of security concerns in Afghanistan, and that he was therefore allowed to continue to stay in Germany. He had been granted a toleration permit which means that deportation is suspended, Der Spiegel said. Hints of an 'extremist' background The Munich prosecutor's office told Die Zeit that there were at least "indications of an extremist background'. State minister Georg Eisenreich confirmed that the Bavarian Central Office for Combating Extremism and Terrorism had taken control of the investigation into the attack. According to Der Spiegel, Noori put Islamist posts on social media before allegedly carrying out the crime. Police do not currently believe those injured in the attack - protestors linked with the Verdi trade union - were targeted specifcally. "At the moment we are actually assuming that the target group here, that the victims from the ranks of this Verdi demonstration, were more of a coincidence," Mr Herrman told reporters according to Die Zeit. "But of course that also needs to be investigated." He was already known to police "So far we know that he has been caught with drugs and shoplifting, but according to the current state of the investigation, no violence has been detected,' a police spokesperson said. Investigators are continuing to look into his background as they try and establish any potential motive, and they raided his apartment in an upmarket area of Munich. He was still being questioned hours after the 30 people were injured. German chancellor Olaf Scholz has called on the perpetrator of the attack to leave the country. "This perpetrator cannot hope for any leniency. He must be punished and he must leave the country," Mr Scholz said. "If it was an attack, we must take consistent action against possible perpetrators with all means of justice," he added. Was anyone else involved? According to one eyewitness report in Bild, which emerged soon after the crash, two people were seen in the Mini. However this has yet to be confirmed and only one man appears to have been detained at the scene. In a post on X, Munich police said they could not confirm whether more than one person was involved. 'As reported, the person secured is the driver of the car,' police said. 'There is speculation about other people involved. Based on our current knowledge, we cannot confirm this.'
