TJX Companies Boosts FY23 Earnings Outlook - Update

(RTTNews) - While reporting financial results for the third quarter on Wednesday, off-price retailer TJX Companies, Inc. (TJX) trimmed its earnings outlook for the fourth quarter, while raising its earnings guidance for the full-year 2023.

For the fourth quarter, the company expects earnings in a range of $0.85 to $0.89 per share on U.S. comparable store sales of between flat and up 1 percent, compared to the prior forecast for earnings in the range of $0.92 to $0.96 per share on U.S. comparable store sales of between flat and down 1 percent.

On average, 21 analysts polled by Thomson Reuters expected the company to report earnings of $0.94 per share for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2023, the company now projects earnings in a range of $2.93 to $2.97 per share and adjusted earnings in range of $3.07 to $3.11 per share on comp sales decline of 1 to 2 percent.

Previously, the company expected earnings in the range of $2.87 to $2.95 per share and adjusted earnings in the range of $3.05 to $3.13 per share on comp sales decline of 2 to 3 percent.

The Street is looking for earnings of $3.10 per share for the year.

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