Seeking Alpha

TJX Companies lower after earnings miss

  • TJX Companies (TJX) reports comparable-store sales rose 1% in FQ1.
  • Segment revenue growth: Marmaxx +2.4% to $4.23B; HomeGoods +9.9% to $757M; TJX Canada -5.7% to $608M; TJX Europe +24% to $890M.
  • Inventory on a per-store basis ended the quarter flat compared to a year ago.
  • The company's sales were lighter than analysts expected even after factoring in wide weather disruptions. Pricing, traffic, and mix all played a factor.
  • TJX -4.2% premarket
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