TJX shares rise after earnings beat
TJX Companies Inc. shares rose 1.7% in Tuesday premarket trading after the off-price retailer reported third-quarter earnings that beat estimates. Net income was $549.8 million, or 83 cents per share, down from $587.3 million, or 86 cents per share, for the same period last year. Adjusted earnings per share were 91 cents, beating the 87-cent FactSet consensus. Sales totaled $8.3 billion, up from $7.8 billion last year and beating the $8.2 billion FactSet consensus. Same-store sales increased 5%, beating the 3.4% increase FactSet forecast. Full-year fiscal 2017 adjusted EPS is now expected to be $3.46 to $3.48, up from $3.39 to $3.43 due to the strong third-quarter results. The FactSet consensus is $3.48. TJX shares are up 4.7% for the year so far while the S&P 500 Index is up 5.9% for the same period.
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