TJX Companies Guides Q3 EPS Above Estimates; Boosts FY25 EPS Outlook - Update
2024-08-13
4120
(fxcue news) - While reporting financial results for the second quarter on Wednesday, off-price retailer TJX Companies, Inc. (TJX) provided its earnings and comparable store sales outlook for the third quarter and raised earnings outlook for the full-year 2025.
For the third quarter, the company now expects earnings in a range of $1.06 to $1.08 per share on consolidated comparable store sales growth of 2 to 3 percent.
Looking ahead to fiscal 2025, the company now projects earnings in a range of $4.09 to $4.13 per share on consolidated comparable store sales growth of about 3 percent.
Previously, the company expected earnings in the range of $4.03 to $4.09 per share on consolidated comparable store sales growth of 2 to 3 percent.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.10 per share for the quarter and $4.14 per share for the year. Analysts' estimates typically exclude special items.
The Company also continues to expect to repurchase approximately $2.0 to $2.5 billion of TJX stock during the fiscal year ending February 1, 2025.
Additionally, the company said it has signed a definitive agreement to make an investment of approximately $360 million, subject to customary working capital adjustments, for a 35% ownership stake in Dubai-based privately-held off-price retailer Brands for Less (BFL).
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