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TJX Companies $TJX 0.00% raised its full-year sales and profit forecasts after posting first-quarter earnings and revenue that came in above its own plan, the company said Wednesday.
Against analyst expectations of $1.02 per share, according to Reuters, the Framingham, Massachusetts-based off-price retailer delivered diluted earnings per share of $1.19 for the quarter ended May 2 — a 29% jump from $0.92 in the year-ago period.
Revenue for the quarter came to $14.32 billion, a 9% increase from $13.11 billion in the prior-year period, topping the $14 billion analysts had projected, according to Reuters.
Comparable store sales rose 6% across the company, compared with a 3% gain in the same period last year. The HomeGoods division led all segments with a 9% comparable sales increase, followed by TJX Canada at 7% and Marmaxx — which operates TJ Maxx and Marshalls — at 6%.
