The TJX Companies IncTJX
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Raised profit outlook and store target, beat estimates
Impact on stocks 1
Consumer Discretionary
The TJX Companies IncTJX Raises Profit Outlook and Store Target After Marmaxx Fix
Earnings
TJX Companies raised its full-year profit outlook and long-term store target while addressing weaker-than-expected performance at its Marmaxx division. Adjusted earnings of $1.22 per share beat the Zacks Consensus Estimate of $1.18, and revenues of $15.18 billion topped the consensus estimate of $15.14 billion. CFO John Klinger said fiscal 2027 adjusted pre-tax margin is expected at 12-12.1%, and adjusted earnings guidance was raised to $5.15-$5.20, implying 9-10% year-over-year growth, while full-year comparable sales are still expected to rise 3-4%. CEO Ernie Herrman called Marmaxx's 1% comps increase self-inflicted due to merchandise mix issues, but said the division improved in August and should improve further by the holiday quarter. TJX also plans to increase annual store-opening growth to 4% beginning in fiscal 2028 and raised its long-term store target by 500 locations to 7,500, with HomeGoods, TJX Canada, and TJX International all posting stronger comps.
The TJX Companies IncRaised profit outlook and store target, beat estimates