Why TJX Companies Stock Is Trading Higher Today

TJX Companies Inc TJX is trading higher Wednesday after the company announced better-than-expected third-quarter fiscal 2022 financial results.

TJX Companies reported quarterly earnings of 84 cents per share, which beat the estimate of 81 cents per share. The company reported quarterly revenue of $12.5 billion, which beat the estimate of $12.25 billion, representing an increase of 20% year-over-year.

TJX Companies said that sales are very strong to start the fourth quarter.

"We saw robust trends throughout the quarter, with comp sales exiting the quarter as strong as the beginning of the quarter. Further, our home businesses across all of our divisions continued their phenomenal performance, and overall apparel open-only comp store sales increased mid-single digits," said Ernie Herrman, president and CEO of TJX Companies.

Related Link: Recap: TJX Companies Q3 Earnings

TJX Price Action: TJX Companies has traded as low as $59.12 over a 52-week period. It's making new 52-week highs Wednesday.

The stock was up 9.29% at $75.92 at time of publication.

Photo: Mike Mozart from Flickr.