TJ Maxx and Marshalls owner hikes outlook as CEO says holiday season is off to a 'strong start'

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The CEO of TJX Companies

said on Wednesday the holiday shopping season is off to a “strong start” as the discounter behind TJ Maxx, Home Goods and Marshalls issued fiscal third-quarter results that beat expectations on the top and bottom lines.

“The availability of merchandise continues to be outstanding, and we are excited about the deals we are seeing in the marketplace,” CEO Ernie Herrman said in a news release. He said the company’s brands are “strongly positioned as gifting destinations for value-conscious shoppers this holiday season.”

Still, the retailer’s holiday guidance fell short of Wall Street’s expectations. Assuming current tariff levels stay in effect, the company is expecting comparable sales to rise between 2% and 3% in its current quarter, shy of expectations of 3.1% growth, according to StreetAccount. TJX is expecting earnings per share to be between $1.33 and $1.36, which is also just below expectations of $1.37, according to LSEG.