Stock Alert: TJX Companies Slips 7% On Quarterly Results, Outlook

(RTTNews) - Shares of off-price apparel and home fashions retailer The TJX Companies, Inc. (TJX) are down more than 7% Wednesday morning following earnings miss in the second quarter.

The company said it expects third-quarter open-only comp-store sales to decrease in the range of 10% to 20%, in line with the sales trends since the middle of July and through August month-to-date.

TJX reported loss of $0.18 per share in the second quarter compared with earnings of $0.62 per share in the same quarter a year ago. Analysts polled by Thomson Reuters were expecting loss of $0.10 per share.

Net sales for the quarter decreased to $6.668 billion from $9.782 billion last year. The consensus estimate was at $6.57 billion.

TJX is currently trading at $53.20. It has traded in the range of $32.72- $64.95 in the last one year.