Why TJX Stock Is Seeing Blue Skies Today

Why TJX Stock Is Seeing Blue Skies Today

TJX Companies Inc TJX shares are trading near session highs, up by 4.96% to $78.98, going into Wednesday's close. The company reported mixed third-quarter results and raised its fourth-quarter comparable store sales outlook.

What Happened?

TJX Companies reported quarterly earnings of 86 cents per share which beat the analyst consensus estimate of 80 cents. The company also reported quarterly sales of $12.17 billion which missed the analyst consensus estimate of $12.30 billion by 1%. This sales figure represents a 3% decrease over sales of $12.53 billion in the same period last year.

TJX Companies raised its fourth-quarter U.S. comp store sales outlook from flat to up 1%. TJX also sees fourth-quarter EPS as low as 85 cents to as high as 89 cents, versus the analyst consensus estimate of 94 cents.

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Ernie Herrman, Chief Executive Officer and President of The TJX Companies, Inc., stated, "I am very pleased with our third quarter performance. U.S. comparable store sales exceeded our expectations, and overall pretax margin, merchandise margin, and earnings per share were strong. I am particularly pleased with the results at our Marmaxx division, which delivered a 3% comp sales increase, driven by a strong increase in its apparel business."

According to data from Benzinga Pro, TJX has a 52-week high of $79.40 and a 52-week low of $53.69.

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