Ross and TJX boost outlooks
Retail Editor 4 -- Home Textiles Today, August 2, 2012
New York - Off-price chains Ross Stores and TJX Companies were both encouraged enough by their ongoing businesses to increase their outlooks for the second quarter.
After above-plan sales and strong margins in July, TJX now expects its second quarter earnings per share to be approximately 55 cents, which is above the company's recently raised guidance and up significantly over last year.
For the full year, TJX now projects earnings per share to be in the range of $2.38 to $2.44.
Ross Stores' better-than-expected July included above-plan sales and gross margin. The company now estimates earnings per share for the second quarter to be 80 to 81 cents. Previous guidance set EPS at 77 to 78 cents.
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