TJX Cos Inc.
Company Description
The TJX Companies, Inc. operates as an off-price retailer of apparel and home fashions in the United States and Internationally. The company offers its products through such stores as TJ Maxx, Marshalls and Homegoods. TJX was founded in 1956 and has a market cap of $11.72 billion.
First-Quarter Results
TJX Cos. stepped-up and pleased the Street on May with first-quarter results that were in line with expectations. Sales were up a marginal 1% from last year to $4.35 billion. Income came in at $209.2 million, up from $193.8 million last year, producing earnings of 49 cents per share, in line with the consensus estimate.
The company noted that its same-store sales were up about 2% from last year, but also said that its revenue growth was adversely effected by the stronger dollar.
Estimates Jump
After the solid quarterly beat, analyst went ahead and raised their earnings guidance. The current-year is up 6 cents in the last 7 days to $2.10. The next-year estimate is 7 cents in the same period to $2.32, a 10% earnings growth projection.
The Chart
Shares of TJX have been locked into a steady climb higher since bottoming out just above $19 in early February. Shares are now pressuring an area of short-term resistance just above $29. Take a look below.
