TJX Cos. (TJX) shares dip after missing guidance expectations
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T.J. Maxx parent raises profit view as cost pressures ease
May 17, 2023 7:39 AM EDTBy Granth Vanaik
(Reuters) - TJX Cos Inc lifted its annual profit forecast on Wednesday, banking on easing cost pressures to cushion a pullback in consumer spending on discretionary items.
The T.J. Maxx parent also missed first-quarter revenue estimates and joined bigger retailer Target Corp in forecasting a downbeat second quarter as sticky inflation forces consumers to rethink non-essential purchases such as furniture and kitchenware.
... MoreTJX Cos. (TJX) Tops Q1 EPS by 5c
May 17, 2023 7:38 AM EDTTJX Cos. (NYSE: TJX) reported Q1 EPS of $0.76, $0.05 better than the analyst estimate of $0.71. Revenue for the quarter came in at $11.8 billion versus the consensus estimate of $11.81 billion.
Overall Comp Store Sales Growth of 3%GUIDANCE:
TJX Cos. sees Q2 2024 EPS of $0.72-$0.75, versus the consensus of... More
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May 16, 2023 4:18 PM EDTInvesting.com -- Stocks were wobbling on Tuesday as investors await news on negotiations between lawmakers on raising the nation's debt ceiling, as the deadline for the U.S. to avoid a possible default draws swiftly near.
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