TJ Maxx Parent Company TJX Reports Impressive Q3 Earnings, Raises Full-Year Guidance

Benzinga

TJX Companies, which owns TJ Maxx, HomeGoods and Marshalls, reported quarterly earnings that beat analysts' expectations. Revenue was $13.27 billion compared to an expected $13.09 billion. Earnings per share were $1.03 compared to an expected $0.99. TJX raised its full-year guidance for the third time this year, predicting comparable store sales growth of 4-5% compared to a previous 3-4% estimate. Earnings per share guidance was raised to $3.71-3.74 from $3.66-3.72. TJX has been taking market share from retailers like Macy's and Target as inflation-weary customers look for discounts. Apparel and home goods sales increased strongly.

Transcript

00:00 Benzinga and here's what's on the block. TJX companies, which owns TJ Maxx, HomeGoods,

00:05 and Marshalls, reported quarterly earnings that beat analysts' expectations. Revenue was $13.27

00:11 billion compared to the expected $13.09 billion. Earnings per share were $1.3 compared to the

00:17 expected $0.99. TJX raised its full-year guidance for the third time this year, predicting comparable

00:24 store sales growth of 4-5 percent compared to the previous 3-4 percent of the estimates.

00:29 Earnings per share guidance was raised to $3.71 to $3.74, which is up from the $3.66 and $3.72

00:37 from prior results. TJX has been taking the market share from retailers like Macy's and Target,

00:43 as inflation-weary customers look for discounts. Apparel and home goods sales have increased

00:47 strongly. For all things money, visit Benzinga.com.

Category

Transcript

Recommended