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TJX Cos. (TJX) Tops Q2 EPS by 2c; Comps Up 3%; Boosts FY15 EPS Outlook

August 19, 2014 8:27 AM EDT

TJX Cos. (NYSE: TJX) reported Q2 EPS of $0.75, $0.02 better than the analyst estimate of $0.73. Revenue for the quarter came in at $6.92 billion versus the consensus estimate of $6.8 billion.

Comps rose 3 percent, versus estimates calling for a 2.4 percent gain.

Carol Meyrowitz, Chief Executive Officer of The TJX Companies, Inc., stated, “I am very pleased with our second quarter performance. Consolidated comp store sales were up 3% over 4% growth last year, at the high end of our plan, and adjusted earnings per share of $.75 were up 14% over last year’s 18% increase, exceeding our expectations. Our customer traffic gained momentum throughout the quarter, and was positive in July. Further, we are pleased with our solid merchandise margins as well as the improved performance of our apparel businesses. We are now raising our full year adjusted earnings per share guidance to reflect our above-plan second quarter results. The third quarter is off to a solid start and we are excited about our opportunities for the second half of the year. We entered the third quarter in an excellent inventory position and see plentiful opportunities for great brands in the marketplace. We are raising the bar on our marketing campaigns and gift-giving initiatives, which I believe are going to be even better than last year, and above all, we will be bringing consumers amazing values! We are very confident in our ability to deliver another strong year, on top of many, as we continue on the path to being a $40 billion-plus company.”

TJX sees Q3 2015 EPS of $0.81 - $0.85, versus the consensus of $0.85

The company sees FY15 adjusted EPS of $3.10 - $3.18, from $3.05 - $3.17 prior and the consensus of $3.14..

For earnings history and earnings-related data on TJX Cos. (TJX) click here.



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