By
Bloomberg
Published
November 20, 2024
TJX Cos., the owner of off-price apparel retailers TJ Maxx and Marshalls, raised its full-year earnings per share forecast as rising customer transactions set the stage for the holiday season.
The company now sees earnings per share in the range of $4.15 to $4.17, up from the previous range of $4.09 to $4.13. The company continues to see comparable-store sales rising 2% to 3% this year.
“Customer transactions drove our comp sales increases,” Chief Executive Officer Ernie Herrman wrote in a press release, highlighting the appeal of the “treasure hunt shopping experience” to a variety of customers. “The fourth quarter is off to a strong start,” he added.
The shares rose 0.4% at 7:46 a.m. on Wednesday in New York. TJX shares have climbed more than 27% this year, outperforming the S&P 500 Consumer Discretionary Index and the broader S&P 500.