TJX Companies -4% after comp sales disappoint

|About: The TJX Companies, Inc. (TJX)|By:, SA News Editor

TJX Companies (NYSE:TJX) reports comparable sales rose 2.0% in Q2 to fall short of the consensus expectation for a 3.1% increase. A flat comp from the Home Goods chain held back the retailer's performance during the quarter.

TJX's gross margin rate came in at 28.2% of sales vs. 28.3% consensus and 28.9% a year ago. Consolidated pretax profit margin was 10.4% vs. 10.6% a year ago.

Looking ahead, TJX sees Q3 EPS of $0.63 to $0.65 vs. $0.68 consensus and full-year EPS of $2.56 to $2.61 vs. $2.63 consensus. "The third quarter is off to a solid start. We feel great about the terrific availability we are seeing in the marketplace for branded, quality merchandise and our ability to capitalize on the opportunities," says CEO Ernie Herrman.

Shares of TJX are down 3.55% in premarket action to $49.72.

Previously: TJX EPS in-line, misses on revenue (Aug. 20)

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