The TJX Companies operates through four business segments.
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Earnings per share came in above Wall Street consensus expectations, however, shares shares fell 3.52 percent due to the company’s low same-store sales growth compared with previous year. But TJX stock, which also pays a 1.3% dividend yield, won’t be down for long. Revenues narrowly beat the Zacks Consensus Estimate of $7.87 billion.
TJX Companies saw Q3 EPS at $0.83-$0.85 vs. estimates of $0.9 and Q3 Same Store Sales Growth of 2-3 percent.
But here’s the thing: The moderate profit forecast aside, TJX raised its full-year same-store sales guidance to a range of 3% to 4%, topping Street expectations of 3.8%. The retailer increased its store count by 14 stores in the quarter, bringing its total store count to 3,675 locations. This suggests that the company, which has steadily gained market share from its competitors, sees no signs of slowing down. Having a look at the historical EPS report, the company attained $3.33 EPS for the previous year.
From that perspective, TJX stock is now a bargain.
Still, Herrman remained upbeat and said the quarter was “off to a solid start”.
Oh, and by the way, TJX just logged its seventh straight quarter where it has beaten on both the top and bottom lines.
For the quarter ended July 30, TJX reported a profit of $562.2 million, or 84 cents a share, up from $549.3 million, or 80 cents a share, a year earlier.
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TJX Companies Inc (NYSE:TJX) reached at $82.77 price level during last trade its distance from 20 days simple moving average is 2.52%, and its distance from 50 days simple moving average is 5.85% while it has a distance of 11.85% from the 200 days simple moving average. “With our above-plan second quarter results, we are raising our guidance for full year comp sales to increase 3 percent to 4 percent and earnings per share to be in the range of $3.39 to $3.43”. Some better-ranked stocks in the broader retail wholesale sector are Burlington Stores Inc. Consumers are showing they love low-cost apparel, and TJX is still the best way to play this category. The Hedge Fund company now holds 315,233 shares of TJX which is valued at $25,984,656. Past 5 years growth of TJX Companies Inc (NYSE:TJX) observed at 13.62%, and for the next five years the analysts that follow this company are expecting its growth at 10.33%.
