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: FactSetAssociated Press
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