UPDATE: TJX Posts 35% Rise In Q3 Net Profit, Raises Forecast
TJX Companies (NYSE: TJX) reported a 35% rise in its fiscal third-quarter earnings and lifted its outlook for the year.
TJX now projects adjusted earnings of $2.80 to $2.83 per share on same-store sales growth of 3%. The company had earlier expected profit of $2.78 to $2.82 per share on same-store sales growth of 2% to 3%.
TJX's quarterly profit surged to $622.7 million, or $0.86 per share, from a year-ago profit of $461.6 million, or $0.62 per share. Excluding special items, it earned $0.75 per share. The company expected earnings of $0.73 to $0.74 per share.
Its revenue climbed 8.9% to $6.98 billion, versus analysts' estimates of $6.91 billion.
TJX's same-store sales increased 5%.
TJX shares rose 0.53% to $62.82 in pre-market trading.
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