TJX posts weaker-than-expected quarterly comparable-store sales


TJX Cos., the owner of off-price chains T.J. Maxx and Marshalls, on Tuesday posted its slowest comparable-store sales growth in more than 10 quarters, adding to the gloom in the retail

Shares of the company skidded more than 5 percent to $72.99 before the bell.

TJX’s 1 percent rise in comparable-store sales in the first quarter ended April 29 missed the 1.5 percent rise estimated by analysts polled by research firm Consensus Metrix.

The company reported a 3.2 percent rise in sales to $7.78 billion in the quarter, from a year earlier.

The Framingham, Massachusetts-based company’s net income rose to $536.3 million, or 82 cents per share, from $508.3 million, or 76 cents per share.

CNBC contributed to this report.

Source link

Products You May Like

Articles You May Like

Dropbox falls on announcement of COO’s departure
A Tesla buyout financed by debt doesn’t work, but an equity auction may be ‘viable’
Trump applauds Harley Davidson boycott, says it’s a ‘really bad move’
Goldman Sachs downgrades Intel shares to sell due to its chip ‘manufacturing issues’
Campbell Soup downgraded at JP Morgan: Appeal of buying limited

Leave a Reply

Your email address will not be published. Required fields are marked *