TJX Companies Boosts FY24 Outlook - Update

(RTTNews) - While reporting financial results for the second quarter on Wednesday, off-price retailer TJX Companies, Inc. (TJX) provided its earnings outlook for the third and fourth quarters, while raising its earnings guidance for the full-year 2024.

For the third quarter, the company expects earnings in a range of $0.95 to $0.98 per share on overall comparable store sales growth of 3 to 4 percent.

On average, 19 analysts polled by Thomson Reuters expect the company to report earnings of $0.96 per share for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2024, the company now projects earnings in a range of $3.66 to $3.72 per share and adjusted earnings in range of $3.56 to $3.62 per share on comp sales growth of 3 to 4 percent.

Previously, the company expected earnings in the range of $3.49 to $3.58 per share and adjusted earnings in the range of $3.39 to $3.48 per share on comp sales growth of 2 to 3 percent.

The Street is looking for earnings of $3.59 per share for the year.

Based on the third quarter and full-year Fiscal 2024 outlook, the company expects fourth-quarter earnings in a range of $1.10 to $1.13 per share and adjusted earnings in a range of $1.00 to $1.03 per share on comp sales growth of 3 to 4 percent.

The company also said it remains committed to returning cash to its shareholders while continuing to invest in the business to support the near- and long-term growth.

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