: TJX posts mixed earnings with profit above estimates but sales slightly light #FinanceUSA #StockMarketNEWS TJX Cos. Inc. topped profit estimates for its fiscal third quarter, although sales were slightly

@stockMarketNEWS Thu 17 Nov, 2022

TJX posts mixed earnings with profit above estimates but sales slightly light #FinanceUSA #StockMarketNEWS
TJX Cos. Inc. topped profit estimates for its fiscal third quarter, although sales were slightly light and same-store sales guidance was below consensus. The company posted net income of .063 billion, or 91 cents a share, for the quarter to Oct. 29, up from .023 billion, or 84 cents a share, in the year-earlier period. Adjusted per-share earnings came to 86 cents, ahead of the 80 cent FactSet consensus. Sales fell to .2 billion from .5 billion a year ago, just below the .3 billion FactSet consensus. Same-store sales fell 2%, while FactSet was expecting a 2.6% decline. The company said the strong dollar had a three percentage point negative impact on sales growth in the quarter. Total inventories stood at .3 billion at quarter-end, up from .6 billion in the year-earlier period. The company completed the sale of its minority stake in Familia in the quarter, resulting in a million tax benefit that added 5 cents to adjusted EPS. Looking ahead, TJX is expecting full-year adjusted EPS to range from .07 to .11, while the FactSet consensus is .10. It expects same-store sales to do down 1% to 2%, compared with a FactSet consensus of up 1.2%. The stock was slightly higher premarket, but has fallen 1% in the year through Tuesday's close, while the S&P 500 has fallen 16%.

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