TJX Companies Inc Posts Poor Q4 Outlook

Advertisement

TJX Companies Inc (NYSE:TJX) has released its earnings report for its fiscal third quarter of 2017.

TJX, TJX Companies IncTJX Companies Inc stock was down following a poor outlook for its fiscal fourth quarter of 2017. The company is expecting earnings per share for this period to range from 96 cents to 98 cents. Analysts are expecting the company to report earnings per share of $1.02 for that quarter.

TJX Companies Inc said that its outlook for earnings per share in its fiscal fourth quarter of 2016 were hampered by increasing wages. It claims this will have a negative impact of 3% on its earnings per share for the upcoming quarter.

For its full fiscal year of 2017, TJX Companies Inc is expecting earnings per share between $3.46 and $3.48. It’s previous guidance for the fiscal year had earnings per share ranging from $3.39 to $3.43. Wall Street is looking for earnings per share of $3.48 for the company’s fiscal 2017 year.

Despite the poor outlook, TJX Companies Inc had a strong quarter. It reported revenue of $8.29 billion for its fiscal third quarter of 2017. This is up 5% from its revenue of $$7.75 billion for its fiscal third quarter of 2016. It also came in above Wall Street’s estimate of $8.22 billion for the quarter.

Earnings per share reported by TJX Companies Inc for its fiscal third quarter of 2017 was 91 cents. This is and increase over the earnings per share of 86 cents reported by the apparel retail company during the same time last year. Analysts were expecting the company to report earnings per share of 87 cents for its fiscal third quarter of 2017.

TJX stock was down almost 2% around Noon Tuesday, but has mostly recovered since then and is now only down slightly as of Tuesday afternoon.

More From InvestorPlace


Article printed from InvestorPlace Media, https://investorplace.com/2016/11/tjx-companies-inc/.

©2024 InvestorPlace Media, LLC