TJX Companies Inc (NYSE:TJX), the parent company of TJ Maxx, is likely to report higher sales and earnings when it unpacks its third-quarter results ahead of the market opening on Wednesday, November 15.
The off-price retailer of apparel and home fashions in the US and worldwide has already guided for overall 3Q comparable store sales to be up 3% to 4% and diluted earnings per share to be in the range of $0.95 to $0.98.
The company has benefited from shoppers hunting for bargains in a tough macro environment, with increased customer traffic in all divisions, resulting in strong sales of apparel and accessories and a big improvement in home sales.
Analysts polled by Zacks Investment Research are even more bullish than the company on revenue expectations, with the consensus estimate of 10 analysts forecasting a 7.3% increase to $13.05 billion.
Earnings per share are expected to be up 13% at $0.97, per Zacks’ estimates.
TJX’s shares were down 0.8% at $90.32 in early afternoon trading on Friday.
Contact the author at stephen.gunnion@proactiveinvestors.com