TJX Companies Q2 Profit Rises, Boosts 2016 Outlook - Quick Facts

(RTTNews) - Off-price retailer TJX Companies, Inc. (TJX) reported that second-quarter net income increased to $549.34 million or $0.80 per share from $517.62 million or $0.73 per share in the prior-year quarter.

On average, 24 analysts polled by Thomson Reuters expected the company to report earnings of $0.76 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter increased 6 percent to $7.36 billion from $6.92 billion in the same quarter last year. Analysts expected revenue of $7.25 billion for the quarter. Consolidated comparable store sales increased 6 percent.

Looking ahead to the third quarter, the company expects earnings in a range of $0.80 to $0.82 per share on consolidated comparable store sales growth of 2 to 3 percent. Analysts expect the company to report earnings of $0.89 per share for the quarter.

For fiscal 2016, the company now projects earnings in a range of $3.24 to $3.28 per share on consolidated comparable store sales growth of 3 to 4 percent, up from the prior forecast range of $3.21 to $3.27 per share on consolidated comparable store sales growth of 2 to 3 percent.