TJX Stock Surges as Bargain Shoppers Drive Sales Gains
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Key TakeawaysTJX beat quarterly profit estimates and raised its outlook as shoppers seeking lower prices drove up sales.Comparable store sales were up at all of the company's divisions, driven entirely by customer transactions.The news sent TJX shares to an all-time high Wednesday.
TJX Companies (TJX) shares soared to a record high Wednesday as the discount clothing and home goods retailer reported better-than-expected quarterly profit and boosted its guidance as comparable store sales advanced across all its divisions.The parent of T.J. Maxx, Marshalls, HomeGoods, and other stores posted fiscal 2025 first-quarter diluted earnings per share (EPS) of $0.93, beating forecasts. Revenue rose 6% to $12.48 billion, in line with estimates.Sales at Marmaxx, a combination of T.J. Maxx, Marshalls, and Sierra stores, were up 5% to $7.75 billion. HomeGoods sales were up 6% to $2.08 billion. TJX Canada sales rose 7% to $1.11 billion, and they were 9% higher to $1.54 billion at stores in Europe and Australia.Customer Transactions Drive Sales HigherComparable store sales grew 3%. Chief Executive Office (CEO) Ernie Herrman said that was at the high end of the company’s outlook and driven entirely by customer transactions. He added that the current quarter was “off to a good start,” and that the retailer saw opportunities for the balance of the year that it plans to pursue.For the full year, TJX sees EPS in the range of $4.03 to $4.09, up from its previous prediction of $3.94 to $4.02. It anticipates pretax profit margin at 11.0% to 11.1%, up from its earlier expectation of 10.9% to 11.0%.Shares of TJX rose 5.9% to $103.40 as of 11:40 a.m. ET Wednesday after reaching a record-high $104.98 earlier in the session. They are up about 10% year-to-date. Read the original article on Investopedia.
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