TJX (TJX) Shares Up Nearly 5% Amid Strong June Comps, Raised Outlook
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Shares of one of the US's largest retailers, TJX (NYSE: TJX), are leading the retail sector higher Thursday following solid same-store sales growth for the month of June and raised guidance. While the SPDR S&P Retail ETF (NYSE: XRT) is up 0.8 percent at last check, TJX shares are up 4.6 percent to $44.45.
The company posted total monthly sales of $2.3 billion, up about 9 percent from the same five-week period in 2011. Same-store sales were up 7 percent on a year-over-year basis.
TJX is now looking for second-quarter earnings of 52-53 cents per share, up from prior guidance of 47-50 cents, and compared to the Street consensus estimate of 51 cents.
The retailer's FY13 EPS outlook was raised from $2.27-$2.37 to $2.31-$2.39, which compares to the analyst estimate of $2.42.
The company posted total monthly sales of $2.3 billion, up about 9 percent from the same five-week period in 2011. Same-store sales were up 7 percent on a year-over-year basis.
TJX is now looking for second-quarter earnings of 52-53 cents per share, up from prior guidance of 47-50 cents, and compared to the Street consensus estimate of 51 cents.
The retailer's FY13 EPS outlook was raised from $2.27-$2.37 to $2.31-$2.39, which compares to the analyst estimate of $2.42.
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