AAA  Aug. 20, 2014
TJX raises guidance
  •       Text Size    
  •       AIM Article
  •       Share Article

Buy AP Photo Reprints

Shares of TJX, the parent company of T.J. Maxx, Marshalls and other stores, jumped 8.6 percent Tuesday. Investors took action after the company lifted its full-year earnings forecast, citing its better-than-expected second-quarter performance.

TJX earned $517.6 million, or 73 cents per share, for the period ended Aug. 2. That compares with $479.6 million, or 66 cents per share, a year earlier.

Removing a debt extinguishment charge, earnings were 75 cents per share. Analysts, on average, expected earnings of 73 cents per share, according to a FactSet survey.

Revenue for the Framingham, Massachusetts company increased 7 percent to $6.92 billion from $6.44 billion, beating Wall Street's estimate of $6.88 billion.

TJX now anticipates fiscal 2015 earnings of $3.08 to $3.16 per share, and an adjusted profit of $3.10 to $3.18 per share. Its prior outlook was $3.05 to $3.17 per share.

Total returns through Aug. 19

*annualizedSource: FactSet

Associated Press
Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

©  Associated Press. All Rights Reserved.