logo
Plus   Neg
Share
Email

TJX Companies Lifts FY19 Outlook - Quick Facts

While reporting its second-quarter financial results today, off-price retailer TJX Companies Inc. (TJX) increased its fiscal 2019 outlook for earnings per share and comparable store sales.

For the third quarter, TJX forecasts earnings per share in a range of $1.18 to $1.20. Excluding an expected benefit of about $0.18 per share due to items related to the 2017 Tax Cuts and Jobs Act, the company expects adjusted earnings per share of $1.00 to $1.02.

This guidance assumes that foreign currency will negatively impact earnings per share growth by about 4 percent and that wage increases will negatively impact earnings per share growth by an additional 2 percent.

The earnings per share outlook is based upon estimated consolidated comparable store sales growth of 2 percent to 3 percent, and Marmaxx comparable store sales growth of 3 percent to 4 percent.

On average, analysts polled by Thomson Reuters expect earnings of $1.23 per share for the quarter. Analysts' estimates typically exclude special items.

For fiscal 2019, TJX now forecasts earnings per share of $4.83 to $4.88, which includes an expected benefit of about $0.73 to $0.74 per share due to items related to the 2017 Tax Cuts and Jobs Act. Excluding this benefit, the company now expects adjusted earnings per share of $4.10 to $4.14.

This guidance assumes that wage increases will negatively impact earnings per share growth by 2 percent. The revised outlook is also now based upon estimated comparable store sales growth of 3 percent to 4 percent on both a consolidated basis and at Marmaxx.

Earlier, TJX projected full-year earnings of $4.75 to $4.83 per share and adjusted earnings in a range of $4.04 to $4.10 per share, based upon estimated consolidated comparable store sales growth of 1 percent to 2 percent.

The Street expects earnings of $4.86 per share for the year.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Walt Disney World, the Orlando, Florida-based entertainment complex, is easing the health safety guidelines that were rolled out to prevent the spread of the ongoing COVID-19 pandemic. The complex is ending temperature checks in a phased manner following the advice of the Centers for Disease Control and Prevention (CDC) and local health officials. Frito-Lay North America, the convenient foods division of food and beverages giant PepsiCo, Inc., is recalling select Ruffles All Dressed Potato Chips citing the possible presence of undeclared milk ingredients, a known allergen, the U.S. Food and Drug Administration said. According to the agency, the recalled products may have distributed regionally to Walmart's Sam's Club Warehouses. Pfizer Inc. (PFE) and BioNTech SE (BNTX) announced Friday that they have initiated the Biologics License Application (BLA) process with the U.S. Food and Drug Administration (FDA) for approval of their mRNA vaccine to prevent COVID-19 in individuals 16 years of age and older. The companies initiated...
Follow RTT