TJX Stock Drops After Mixed Earnings Report Despite Beating Estimates
The TJX Companies (NYSE: TJX) saw its stock fall nearly 6% in early trading on Wednesday despite reporting better-than-expected earnings. The company reported $1.22 per share, surpassing the expected $1.19 and achieving sales of $15.2 billion for Q2. However, concerns arose as its largest division, Marmaxx (which includes T.J. Maxx and Marshalls), underperformed expectations. TJX noted that GAAP earnings surged 24% to $1.36 per share due in part to a refund of tariffs collected during the Trump administration. Non-GAAP earnings rose 11%, while same-store sales grew faster than anticipated at 4%. Management expects slower growth for Q3, projecting an average increase of only 2%-3%. Looking ahead, TJX anticipates GAAP profits of about $1.37 per share in the third quarter and around $5.33 for the full year—both including one-time gains from tariff refunds that won't recur.
Tickers: $TJX
Topics: financial_results retail stock_performance