TJX Q2 EPS Rises 7%, Comps. Up 2%; Issues Earnings Guidance Below Estimates

(RTTNews) - The TJX Companies, Inc. (TJX) said, for the second quarter, earnings per share were at the high end of the company's expectations, and consolidated comparable store sales increased 2 percent, which was in line with its guidance.

For the second-quarter, earnings per share were $0.62, up 7 percent from $0.58, last year. On average, 24 analysts polled by Thomson Reuters expected the company to report profit per share of $0.62, for the quarter. Analysts' estimates typically exclude special items.

Second-quarter net sales increased 5 percent to $9.8 billion. Consolidated comparable store sales increased 2 percent, for the quarter. Analysts expected revenue of $9.9 billion for the quarter.

For the third quarter, the company expects earnings per share to be in the range of $0.63 to $0.65. Comparable store sales growth is estimated to be in the range of 1 percent to 2 percent on a consolidated basis. For Marmaxx, the company expects comparable store sales growth of 1 percent to 2 percent. Analysts polled by Thomson Reuters expect the company to report profit per share of $0.68, for the quarter.

For the fiscal year ending February 1, 2020, the company continues to expect earnings per share to be in the range of $2.56 to $2.61. Comparable store sales growth is anticipated in a range of 2 percent to 3 percent on a consolidated basis and at Marmaxx. Analysts polled by Thomson Reuters expect the company to report profit per share of $2.62, for the fiscal year period.

Shares of TJX Companies were down more than 3% in pre-market trade on Tuesday.