TJX Cos. Raises its Fiscal 2020 Outlook

By Aisha Al-Muslim

TJX Cos. (TJX) Tuesday said it raised its full-year earnings per share outlook.

For the current fiscal year, ending Feb. 1, 2020, the Framingham, Mass.-based company now expects per-share earnings of $2.56 to $2.61, compared with its previous guidance of $2.55 to $2.60.

The parent of TJ Maxx and HomeGoods also is now guiding earnings per share to increase of 4% to 7% over the prior year's adjusted $2.45, which excluded a pension settlement charge. The company has previously expected earnings per share to increase 4% to 6%.

The guidance reflects the assumption of higher freight costs and store wage increases will negatively impact earnings per share growth by 3% to 4%. The estimated comparable store sales growth is of 2% to 3% on a consolidated basis and at Marmaxx, the company said.

For the second quarter, the company guided per-share earnings of 61 cents to 62 cents, compared with analysts' estimates of 62 cents a share. The company also estimated comparable store sales growth of 2% to 3% on a consolidated basis and at Marmaxx.

Write to Aisha Al-Muslim at [e-mail]

(END) Dow Jones Newswires

May 21, 2019 09:16 ET (13:16 GMT)

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