Kohl's, Macy's, Ross, TJMaxx raise outlooks
Retail Editor 3 -- Home Textiles Today, January 3, 2013
New York - Buoyed by better than expected results for their respective December sales results, four key retailers - Kohl's, Macy's, Ross, and TJMaxx - offered updated guidance for the fourth quarter and yearend periods.
Menomonee Falls, Wis.-based Kohl's now expects diluted earnings per share of $1.60 to $1.62 for the fourth quarter and $4.11 to $4.13 for fiscal 2012 versus its previous guidance of $2.00 to $2.08 for the fourth quarter and $4.52 to $4.60 for fiscal 2012.
Macy's Inc., based in Cincinnati, now expects same-store sales for the fourth quarter to increase by between 3% and 3.5%, compared with previous guidance of a 4.2% increase. Earnings per diluted share for the fourth quarter now are expected to be in the range of $1.91 to $1.96, compared to the earlier guidance in the range of $1.94 to $1.99 per diluted share.
TJX Companies in Framingham, Mass., raised its outlook for fourth quarter earnings per share to be in the range of 77-78 cents, a 24%-26% increase over last year. For the full year, TJX boosted guidance to earnings per share in the range of $2.50-$2.51, representing 20-plus percent growth over last year.
Pleasanton, Calif.-based Ross Stores, based a continued assumption for a 1% to 2% increase in January same store sales, now projects earnings per share for the fourth quarter to be $1.05 to $1.06, compared to previous guidance of $.99 to $1.04.
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