TJX Cos. stock fell 2% premarket Wednesday, after the discount retailer and parent to T.J. Maxx, HomeGoods and Marshalls stores posted better-than-expected...
TJX Cos. stock TJX fell 2% premarket Wednesday, after the discount retailer and parent to T.J. Maxx, HomeGoods and Marshalls stores posted better-than-expected fiscal first-quarter profit but sales that lagged consensus. The company had net income of $891 million, or 76 cents a share, in the quarter to April 29, up from $587 million, or 49 cents a share, in the year-earlier period. Sales rose to $11.783 billion from $11.406 billion a year ago.
The FactSet consensus was for EPS of 72 cents and sales of $11.824 billion. Same-store sales rose 3% to beat the 2.7% FactSet consensus. “Our pretax profit margin and earnings per share both significantly exceeded our plan and our 3% comparable store sales increase was at the high end of our plan,” Chief Executive Ernie Herrman said in a statement. The pretax profit margin came to 10.3%, above the 7.5% posted a year ago. Inventories stood at $6.4 billion at quarter-end, compared to $7.
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