Join        Login             Stock Quote

TJX Companies (TJX) Raises Earnings View Following 3Q Upbeat

 November 13, 2012 10:11 AM

(By Balaseshan) TJX Companies Inc. (NYSE: TJX) shares gained in the early trade after the off-price apparel retailer raised its earnings forecast following better-than-expected quarterly results.

Net earnings increased to $461.55 million or $0.62 per share for the third quarter from $406.49 million or $0.53 per share in the year-ago quarter. Foreign currency exchange rates had a neutral impact on earnings per share, compared with a $0.01 per share positive impact last year.

Sales rose 11 percent to $6.41 billion. Comparable store sales gained 7 percent benefiting from strong growth in customer traffic.

Analysts, on average, polled by Thomson Reuters expected earnings of $0.61 per share on sales of $6.39 billion for the third quarter.

[Related -Goldman Sachs Group Inc (GS): Options Traders Take To Goldman Weeklys]

Gross profit margin rose 0.7 percentage points to 28.8 percent, driven entirely by merchandise margin improvement partially offset by a negative impact from mark-to-market adjustments on the company's inventory-related hedges.

Looking ahead for the fourth quarter, TJX forecasts earnings per share between 72 cents and 75 cents, coming in shy of consensus estimate of 76 cents. Comparable store sales growth is expected between flat and 2 percent. Adjusted earnings is projected to be in the range of $0.65 to $0.68 per share.

For the full year ending January 2013, the company now expects earnings per share in the range of $2.45 to $2.48 from prior expectations of $2.44 to $2.47, while analysts expect earnings of $2.49 per share. Excluding estimated benefit from the 53rd week in the fiscal 2013 calendar, the adjusted earnings is projected in the range of $2.38 to $2.41 per share.

[Related -Dividend Roundup: RPM, SNH, SSS, TJX, WMC]

The stock is trading up 0.83 percent at $41.31 on Tuesday. Shares of the Framingham, Massachusetts-based company have been trading the 52-week range between $29.05 and $46.67.



Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageWorld Growth: Mediocre or Pathetic?

The recent disappointing performance of the world economy has been labelled as the "new mediocre" by read on...

article imageSurvey Data For US Services Sector Hint At Mild Q2 Rebound

Yesterday’s discouraging numbers on job growth in April via the ADP Employment Report raise doubts about a read on...

article imageADP: US Job Growth Stumbled In April

Employment growth at US companies slowed in April to the weakest gain in three years, according to this read on...

article imageBogle Says Indexing Destined To Win The Battle Of The Quants

Vanguard founder John Bogle gave a powerful speech last month at the Q Group’s Spring Seminar that lays out read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.