TJX Raises Q3, FY14 Outlook - Quick Facts

(RTTNews) - The TJX Companies, Inc. (TJX) Monday said it is raising its third-quarter outlook for earnings and comparable store sales, in light of strong sales and profit margins quarter-to-date.

Third-quarter earnings are currently projected in the range of $0.84 to $0.85 per share, with adjusted earnings in the order of $0.73 to $0.74 per share. This compares to the previous guidance range of $0.69 to $0.72 per share. Analysts currently expect third-quarter earnings of $0.72 per share.

The company now expects third-quarter consolidated comparable store sales growth to be approximately 4 percent over last year's reported 7 percent increase.

For fiscal 2014, TJX currently projects earnings in a range of $2.89 to $2.93 per share, with adjusted earnings ranging between $2.78 to $2.82 per share. The company earlier expected to report full-year earnings in a range of $2.74 to $2.80 per share.

Analysts currently expect the company to report full-year earnings of $2.84 per share.

Meanwhile, for the fourth quarter, the company is maintaining its earnings guidance of $0.77 to $0.80 per share. Analysts currently expect fourth-quarter earnings of $0.84 per share.