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TJX Q2 EPS Rises 7%, Comps. Up 2%; Issues Earnings Guidance Below Estimates

The TJX Companies, Inc. (TJX) said, for the second quarter, earnings per share were at the high end of the company's expectations, and consolidated comparable store sales increased 2 percent, which was in line with its guidance.

For the second-quarter, earnings per share were $0.62, up 7 percent from $0.58, last year. On average, 24 analysts polled by Thomson Reuters expected the company to report profit per share of $0.62, for the quarter. Analysts' estimates typically exclude special items.

Second-quarter net sales increased 5 percent to $9.8 billion. Consolidated comparable store sales increased 2 percent, for the quarter. Analysts expected revenue of $9.9 billion for the quarter.

For the third quarter, the company expects earnings per share to be in the range of $0.63 to $0.65. Comparable store sales growth is estimated to be in the range of 1 percent to 2 percent on a consolidated basis. For Marmaxx, the company expects comparable store sales growth of 1 percent to 2 percent. Analysts polled by Thomson Reuters expect the company to report profit per share of $0.68, for the quarter.

For the fiscal year ending February 1, 2020, the company continues to expect earnings per share to be in the range of $2.56 to $2.61. Comparable store sales growth is anticipated in a range of 2 percent to 3 percent on a consolidated basis and at Marmaxx. Analysts polled by Thomson Reuters expect the company to report profit per share of $2.62, for the fiscal year period.

Shares of TJX Companies were down more than 3% in pre-market trade on Tuesday.

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