TJX Companies (NYSE:TJX) noticed its shares accelerate Wednesday, shortly after raising its full-year guidance after posting another quarter of strong sales, but its outlook still fell just short of Wall Street’s expectations.
The discounter behind Marshalls, HomeGoods and TJ Maxx is now expecting full-year earnings to be between $4.09 and $4.13, compared with estimates of $4.14, according to LSEG.
For the current quarter, TJX is expecting earnings per share to be between $1.06 and $1.08, compared with estimates of $1.10.
So far this earnings season, retailers that disappoint with guidance haven’t seen much negative impact to their shares, suggesting investors are prepared for uncertainty in the second half of the year ahead of the U.S. presidential election and a potential rate cut from the Federal Reserve. Shares of TJX rose $5.55, or 4.9%, to $118.91 in early Wednesday trading.
Earnings per share proved to be 96 cents vs.92 cents expected
Revenue came out at $13.47 billion vs. $13.31 billion expected.
The company’s reported net income for the three-month period that ended August 3 was $1.1 billion, or 96 cents per share, compared with $989 million, or 85 cents per share, a year earlier.
Sales rose to $13.47 billion, up from $12.76 billion a year earlier.
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