TJX Raises Fiscal 2027 GAAP EPS Forecast Despite Below-Consensus Third-Quarter Outlook

TJX Companies raised its fiscal 2027 GAAP earnings guidance to $5.31 to $5.36 a share from $5.08 to $5.15 after second-quarter revenue and profit topped estimates, but the stock fell as third-quarter adjusted earnings guidance lagged Wall Street expectations. Net sales rose 5% to $15.18 billion and adjusted diluted earnings increased 11% to $1.22 a share, while GAAP diluted earnings climbed 24% to $1.36 and comparable sales rose 4%. TJX maintained its full-year comparable sales growth outlook of 3% to 4%, lifted its adjusted pretax margin view to 12.0% to 12.1%, and said adjusted full-year earnings should be $5.15 to $5.20 a share, below the $5.22 analyst estimate. For the third quarter, the off-price retailer forecast comparable sales growth of 2% to 3%, adjusted pretax margin of 12.3% to 12.4% and adjusted earnings of $1.30 to $1.32 a share, below the roughly $1.34 consensus. Results included $331 million of International Emergency Economic Powers Act tariff refunds, partly offset by $112 million of related compensation accruals, for a $219 million pretax benefit that added 14 cents a share. HomeGoods, TJX Canada and TJX International outpaced Marmaxx, and TJX said it will expand its store base by about 4% annually from fiscal 2028 and raised its long-term store target to 7,500 from 7,000.

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