Even as several retail companies struggle with weak performances, TJX reported quarterly sales and earnings that surpassed analysts' forecasts.
The off-price department store company's fiscal third-quarter earnings came in at 68 cents a share, beating the 66 cents a share expected by analysts polled by FactSet. The figure is also higher than 63 cents a share in the year-ago quarter.
Sales of $10.45 billion also exceeded analysts estimate of $10.32 billion. The year-ago sales were $9.8 billion.
Same-store sales grew +4% during the quarter.
Looking ahead, TJX forecasts fourth quarter fiscal 2020 earnings to range between 74 cents and 76 cents , compared to year-ago period’s earnings of 68 cents a share. The company expects same-store sales growth to be in the +2% to +3% range.
"We are convinced our holiday marketing campaigns will position us as a top shopping destination for exciting gifts at amazing prices," CEO Ernie Herrman noted.