TJX April key revenue figure tops Street's view

TJX April revenue at stores open at least a year rise 8 pct., beating Wall Street's forecast

Associated Press

FRAMINGHAM, Mass. (AP) -- TJX Cos., parent company of TJ Maxx and Marshalls stores, said Thursday that revenue at stores open at least a year climbed 8 percent in April on strong customer traffic.

This topped the 6.8 percent increase that analysts surveyed by Thomson Reuters were looking for.

This figure is a key gauge of a retailer's health because it excludes results from stores recently opened or closed, measuring growth

TJX said that this is the last time it will report monthly sales and that it will be reporting on a quarterly basis going forward.

For the four weeks ended May 4, total revenue increased 9 percent to $2 billion.

Year-to-date revenue at stores open at least a year rose 2 percent, while total revenue climbed 7 percent to $6.2 billion.

TJX narrowed its first-quarter earnings guidance to a range of 61 cents to 62 cents per share. The Framingham, Mass. company's prior forecast was for earnings between 60 cents and 62 cents per share. Analysts polled by FactSet, on average, expect earnings of 62 cents per share.

The retailer expects to report its first-quarter financial results on May 21.

TJX runs 1,047 T.J. Maxx, 911 Marshalls, 426 HomeGoods and 4 Sierra Trading Post stores in the U.S. It has 226 Winners, 89 HomeSense, and 21 Marshalls stores in Canada and 352 T.K. Maxx and 24 HomeSense stores in Europe.

In morning trading, TJX shares rose 5 cents to $50.96. The stock has traded between $39.46 and $51.22 in the past 52 weeks.

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