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Shares of TJX Edge Higher After Q2 Earnings and Revenue Beat Forecasts

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    • Shares of TJX Edge Higher After Q2 Earnings and Revenue Beat Forecasts
Aug, 15th 13:23

Shares of TJX Cos. jumped more than 1.0 percent in premarket trading on Tuesday after the apparel and home goods company released second-quarter earnings data that beat market forecasts.

TJX shares climbed 1.05 percent to trade at $70.35 a share after the off-price retail company reported net income of $552.6 million, or 85 cents per share for the three-month period to July. The results were down from $562.2 million, 84 cents per share recorded in the same period last year but still beat expectations calling for net income of 84 cents per share.

Sales were reported to reach $8.36 billion in the second quarter, up from $7.88 billion last year and topped the $8.30 billion forecast by analysts. Same-store sales advanced 3% for the quarter, ahead of the expectation for a rise of 2.5%.

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