TJX Companies Boosts FY24 Outlook - Update

(RTTNews) - While reporting financial results for the third quarter on Wednesday, off-price retailer TJX Companies, Inc. (TJX) trimmed its earnings outlook for the fourth quarters, while raising its earnings guidance for the full-year 2024.

For the fourth quarter, the company now expects earnings in a range of $1.07 to $1.10 per share and adjusted earnings in a range of $0.97 to $1.00 per share on overall comparable store sales growth of 3 to 4 percent.

Previously, the company expected earnings in a range of $1.10 to $1.13 per share and adjusted earnings in a range of $1.00 to $1.03 per share on comp sales growth of 3 to 4 percent.

On average, 20 analysts polled by Thomson Reuters expect the company to report earnings of $1.13 per share for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2024, the company now projects earnings in a range of $3.71 to $3.74 per share and adjusted earnings in range of $3.61 to $3.64 per share on comp sales growth of 4 to 5 percent.

Previously, the company expected earnings in the range of $3.66 to $3.72 per share and adjusted earnings in the range of $3.56 to $3.62 per share on comp sales growth of 3 to 4 percent.

The Street is looking for earnings of $3.73 per share for the year.