Comparing
Abercrombie & Fitch and TJX Companies
Following are selected financial statement data from Abercrombie
& Fitch (ANF-upscale clothing retailer) and TJX Companies
(TJX-value-priced clothing retailer including TJ Maxx).
($ thousands) | Company | Total Assets | Net Income | Sales |
---|---|---|---|---|
2015 | TJX Companies Inc. | $10,988,750 | ||
2016 | TJX Companies Inc. | 11,499,482 | $2,277,658 | $30,944,938 |
2015 | Abercrombie & Fitch | 2,505,167 | ||
2016 | Abercrombie & Fitch | 2,443,039 | 35,576 | 3,518,680 |
(a) Compute the return on assets for both companies for the year
ended 2016.
Round your answers to one decimal place.
TJX 2016
ROA = Answer%
ANF 2016 ROA = Answer%
(b) Disaggregate the ROAs for both companies into the profit margin
and asset turnover.
Round profit margin answers to one decimal place.
TJX 2016 Profit
Margin = Answer%
ANF 2016 Profit Margin = Answer%
Round asset turnover answers to two decimal places.
TJX 2016 Asset
Turnover = Answer
ANF 2016 Asset Turnover = Answer
(c) Which company has better financial performance?
ANF turns its assets much faster than TJX and this is the primary reason for its higher return on assets.
ANF is realizing a higher return on assets as a result of its lower investment in assets.
TJX is outperforming ANF on both dimensions, resulting in a ROA higher than ANF's.
ANF's higher return on assets is the result of its greater level of sales.
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