TJX boosts expectations
Home & Textiles Today Staff -- Home Textiles Today, October 20, 2009
Framingham, Mass. – TJX today raised its outlook for third quarter and fiscal year, crediting strong sales velocity in October. The company’s fourth-quarter earnings estimate remains unchanged at 60 to 66 cents per share.
New expectations include:
Comp-store increase of 9% to 11% for October for the total company and the Marmaxx Group;Third-quarter earnings per share of 77-79 cents compared to 58 cents in last year’s 3Q;Third-quarter comps of 7% for the company and 8% to 9% for the Marmaxx Group;Fiscal year earnings per share of $2.46 to $2.54 compared to $2.08 last year;Fiscal year comp increase of 4% to 5% both on a consolidated basis and for Marmaxx.