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TJX Companies Slashes FY23 Outlook - Update

While reporting financial results for the second quarter on Wednesday, off-price retailer TJX Companies, Inc. (TJX) provided financial outlook for the third and the fourth quarters as well as slashed its guidance for the full-year 2023.

For the third quarter, the company projects earnings in a range of $0.77 to $0.81 per share on a U.S. comparable store sales decline of 3 to 5 percent.

For the fourth quarter, the company expects earnings in a range of $0.92 to $0.96 per share on U.S. comparable store sales of between flat and down 1 percent.

Looking ahead to fiscal 2023, the company now projects earnings in a range of $2.87 to $2.95 per share and adjusted earnings in range of $3.05 to $3.13 per share on comp sales decline of 2 to 3 percent.

Previously, the company expected earnings in the range of $2.94 to $3.01 per share and adjusted earnings in the range of $3.13 to $3.20 per share on comp sales growth of 1 to 2 percent.

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