Finance
TJX jumps after raising full-year guidance
- TJX beat on both the top and bottom lines.
- The retailer raised its full-year guidance for earnings and comparable sales.
- Shares of TJX jumped as much as 5% in the Tuesday pre-market trading.
- Watch TJX trade in real-time here.
TJX reported second-quarter results that topped Wall Street estimates and raised its full-year guidance for earnings and sales. Shares jumped as much as 5% in the Tuesday pre-market trading.
The retailer earned an adjusted $1.17 a share, beating the $1.05 that Wall Street analysts surveyed by Bloomberg were anticipating. Net sales in the second quarter rose 12% to $9.3 billion, topping the $9 billion that was expected. TJX also reported a 6% increase in consolidated comparable sales.
“Customer traffic was once again the primary driver of our comp store sales increases at all of our divisions as we continue to reach a very wide customer demographic. Further, this marks the 16th straight quarter of customer traffic increases for TJX and Marmaxx,” CEO Ernie Herrman said in the earnings release.
TJX raised its outlook for earnings and now sees adjusted earnings per share of $4.10 to $4.14, up from $3.85. But Wall Street was expecting $4.86 a share.
The company also raised its consolidated comparable sales guidance for the fiscal year from up between 2% and 3% to up between 3% and 4%.
TJX shares were up 30% this year through Monday.
-
Business7 days ago
API startup Noname Security nears $500M deal to sell itself to Akamai
-
Entertainment6 days ago
NASA discovered bacteria that wouldn’t die. Now it’s boosting sunscreen.
-
Entertainment7 days ago
How to watch ‘Argylle’: When and where is it streaming?
-
Business6 days ago
Tesla drops prices, Meta confirms Llama 3 release, and Apple allows emulators in the App Store
-
Business5 days ago
TechCrunch Mobility: Cruise robotaxis return and Ford’s BlueCruise comes under scrutiny
-
Entertainment5 days ago
‘The Sympathizer’ review: Park Chan-wook’s Vietnam War spy thriller is TV magic
-
Business4 days ago
Tesla layoffs hit high performers, some departments slashed, sources say
-
Business4 days ago
Meta to close Threads in Turkey to comply with injunction prohibiting data-sharing with Instagram