TJX tops Q2 estimates, but Q3 guidance trails expectations
TJX Companies reports Q2 sales of $15.180 billion and EPS of $1.22, both above Street estimates, while third-quarter EPS guidance of $1.30-$1.32 and comp guidance of 2%-3% trail expectations.
Shares of TJX Companies Inc (NYSE: TJX ) tanked in early trading on Thursday, after the company reported its second-quarter results. While the company reported better-than-guided results, the beat was driven by HomeGoods and International. The core Marmaxx division lagged, and management’s third-quarter guidance fell short of expectations. Check out other analyst stock ratings.
164 billion. 3%. Comps of Marmaxx improved by 1%, HomeGoods by 7%, Canada by 6% and International by 7%. 0%.
19 per share. Although Marmaxx underperformed, management indicated that the division was "off to a good start" in Q3. 50 billion, the analyst noted. Guidance: As usual, TJX Companies announced its outlook below expectations, Siegel said.
35 per share. Management raised its store growth outlook, now expecting the company’s overall global store base to reach 7,500 in existing banners/current countries, up from its prior target of 7,000, the analyst stated. "We continue to see TJX as a long-term share compounder, as the company has become increasingly important to its vendors, representing a crucial element within the retail ecosystem, further evidenced by today’s LT store target raise," he further wrote. 21 at the time of publication on Thursday.
Read Also: TJX Bets Bigger on Brick-And-Mortar, Lifts Global Store Target to 7,500 Image: Shutterstock