TJX Sales Up, Raises Guidance Again
April sales at TJX Cos. Inc. rose 7 percent from the same month last year to $1.8 billion, and the company raised its earnings expectations again.
Consolidated comparable store sales rose 6 percent for the month. For the past 13 weeks, comparable store sales rose 8 percent over the same period last year, while total sales were up 11 percent to $5.8 billion.
The Framingham-based retail group, which owns such brands as T.J. Maxx, Marshalls and HomeGoods, said growth came from all three of its geographical divisions: the U.S., Canada and Europe.
TJX also raised its earnings guidance for the second time in two months. For the first quarter, it now says it expects earnings per share of about 54 cents. Last month, it raised its guidance for the quarter from a range of 45 to 47 cents up to between 51 and 52 cents. For the full year, the company raised its expectations range a penny to between $2.26 and $2.36.
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