- TJX Companies (TJX) +4.1% premarket after Q2 earnings and revenue beat estimates and bucked the trend of weak results at several retailers including Macy's and Wal-Mart.
- Same-store sales rose 4%, beating analyst consensus of a 3% gain; TJX says it expects same-store sales to rise 2%-3% in the current quarter.
- Gross profit margin was 28.8% vs. 28.1% a year ago, driven by strong merchandise margin improvement and buying and occupancy expense leverage on above-plan sales.
- For Q3, sees EPS of $0.69-$0.72 vs. $0.71 consensus, with same-store sales up 2%-3%; raises FY 2014 EPS to $2.74-$2.80 from $2.70-$2.78 and $2.82 consensus, with sale-store sales up 2%-3% from up 1%-2%.
More on TJX's Q2 results, shares +4.1% premarket
Aug 20 2013, 09:29 ET