TJX Companies Q2 Profit Per Share Increases

(RTTNews) - Off-price apparel retailer TJX Companies Inc. (TJX) Tuesday announced a decline in second quarter net income to $552.96 million from $562.17 million last year. On a per share basis, earnings was $0.85, up from $0.84 in the prior year. The company noted that the overall net impact of foreign currency exchange rates had a $.04 negative impact on second quarter.

On average, 24 analysts polled by Thomson Reuters expected the company to earn $0.84 per share. Analysts estimates usually exclude special items.

Net sales for the quarter, climbed 6 percent to $8.357 billion from $7.882 billion a year ago. Comparable store sales were up 3 percent over 4 percent increase in the prior year. Wall Street expected $8.29 billion.

For the third quarter, the company expects earnings per share to be in the range of $.98 to $1.00, up 18 to 20 percent over the prior year. Analysts are looking for $1 on revenue of $8.79 billion.

Looking ahead to the fiscal 2018, the company expects earnings in a range of $3.89 to $3.93 per share and adjusted earnings in a range of $3.78 to $3.82 per share. Street estimates is $3.89 per share on revenue of $35.52 billion.