(TJX) Shares of TJX Companies Inc. soared more than 8% on Wednesday after reporting an income of $587.5 million or 49 cents per share in the first quarter of 2023. The earnings were higher than $533.9 million in the prior year.
TJX said that its adjusted earnings per share came at 68 cents, which surpassed estimates of 60 cents per share.
The company’s sales came at $11.406 billion, compared to $10.087 billion in the prior year, but below estimates of $11.586 billion. US same-store sales came flat, with its Marmaxx division up 3%, while the HomeGoods unit fell 7%.
TJX is now guiding a decline of 1% to 3% of its US same-store sales in the second quarter. The company expects an EPS of 65 cents to 69 cents in the quarter, below estimates of 75 cents per share.
For FY22, the company projects a 1% to 2% US same-store sales increase. EPS is expected between $2.94 and $3.01, while adjusted EPS is projected at between $3.13 and $3.20, compared to estimates of $3.16.
TJX:NYSE is up +8.62%.
