TJX Companies Q1 Profit Rises, Boosts 2016 Outlook - Quick Facts

(RTTNews) - TJX Companies, Inc. (TJX) reported that first-quarter net income increased to $474.60 million or $0.69 per share from $454.32 million or $0.64 per share in the prior-year quarter.

On average, 26 analysts polled by Thomson Reuters expected the company to report earnings of $0.67 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter increased 6 percent to $6.87 billion from $6.49 billion in the same quarter last year. Analysts expected revenue of $6.80 billion for the quarter. Consolidated comparable store sales increased 5 percent.

Looking ahead to the second quarter, the company expects earnings in a range of $0.72 to $0.74 per share on consolidated comparable store sales growth of 2 to 3 percent. Analysts expect the company to report first-quarter earnings of $0.78 per share.

For fiscal 2016, the company now projects earnings in the range of $3.21 to $3.27 per share on consolidated comparable store sales growth of 2 to 3 percent, up from the prior guidance range of $3.17 to $3.25 per share on comparable store sales growth of 1 to 2 percent. Analysts expect the company to report full-year 2015 earnings of $3.30 per share.

The company also continues to expect to repurchase approximately $1.8 to $1.9 billion of TJX stock in fiscal 2016.