TJX Companies Surprises With Updated Full-Year Profit Guidance

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TJX Companies Surprises With Updated Full-Year Profit Guidance

TJX Companies Surprises With Updated Full-Year Profit Guidance
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TJX Companies Surprises With Updated Full-Year Profit Guidance

by TheStreet 0:53 mins

Shares of TJX Companies surged on Tuesday making it TheStreet's Move of the Day. The owner of discount apparel shops TJ Maxx and Marshalls raised its full-year earnings forecast to between $3.10 and $3.18 a share, up from a previous forecast of $3.05 to $3.17 a share. In the second quarter, the company recorded profits which were up 14 percent to 75 cents a share, coming in 2 cents higher than analysts expected. The quarter capped off a solid first half of the year. Sales are up 6 percent since January to $13.4 billion. Shares of TJX Companies jumped 8.7 percent to $58.56 on Tuesday, making it the top performer in the S&P 500. TheStreet's Keris Lahiff reports from New York.

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