TJX Companies Surprises With Updated Full-Year Profit Guidance

TheStreetAugust 19, 2014

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.