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Ross, TJX raise outlooks

New York - Coming off the January reporting period, off-price chains Ross Stores and TJX Cos. have both offered revised guidance.

For 52-week year ending Feb. 1, 2014, Ross is forecasting same store sales to grow 1% to 2% on top of robust 6% and 5% increases in the prior two years, respectively. And fiscal 2013 earnings per share are projected to be $3.65 to $3.80. Excluding the estimated 10 cents per share from the 53rd week in fiscal 2012, this guidance represents forecasted earnings per share growth of 6% to 11% on top of an estimated 20% increase in 2012 and a 24% gain in 2011.

TJX Companies raised its outlook for fourth quarter earnings per share to be approximately 80 to 81 cents, a 29% to 31% increase over last year."

For the full year, TJX is boosted its guidance for earnings per share to be approximately $2.53 to $2.54, which would represent growth of more than 25% year-over-year.

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