UPDATE: TJX Posts Upbeat Q2 Results, Lifts Full-Year Earnings Outlook

Shares of TJX Companies (NYSE: TJX) jumped more than 4% in pre-market trading after the company reported better-than-expected second-quarter results and lifted its forecast for fiscal 2015. The Framingham, Massachusetts-based company posted quarterly earnings of $517.6 million, or $0.73 per share, compared to $479.6 million, or $0.66 per share, in the year-ago quarter. Its adjusted earnings came in at $0.75 per share. Its sales surged to $6.917 billion from $6.442 billion. However, analysts were expecting earnings of $0.73 per share on revenue of $6.884 billion. TJX's same-store sales increased 3%, versus analysts' expectations for a 2.4% gain. Its gross profit margin dropped 0.2 percentage points to 28.6%, in the quarter. As of August 2, 2014, TJX's total inventories were $3.4 billion, up from $3.2 billion at the end of year-ago quarter.During the quarter, TJX raised its store count by a net of 23 stores.Carol Meyrowitz, Chief Executive Officer of The TJX Companies said, “Our customer traffic gained momentum throughout the quarter, and was positive in July. Further, we are pleased with our solid merchandise margins as well as the improved performance of our apparel businesses.”TJX now projects FY15 adjusted earnings of $3.10 to $3.18 per share, versus analysts' estimates of $3.14 per share. It also expects Q3 earnings of $0.81 to $0.85 per share, versus estimates of $0.85 per share.TJX shares climbed 4.45% to $56.30 in pre-market trading.