TJX Pushes Up Earnings Forecast On A Rise In June Same-Store Sales

Shares of TJX Companies Inc TJX moved down as the company raised its earnings forecast and its June sales for stores open at least one year fell short of expectations. The same-store sales rose 3% in the month of June, well short of the Street view of 4.2%. TJX’s total sales for the five weeks ended July 4 moved up 7% to $2 billion. The Framingham, Massachusetts-based company raised its Q2 profit forecasts to $0.70-$0.73 per share, from the earlier forecast of $0.67-$0.72 per share. For the full year, TJX has increased its earnings guidance to $3.24 to $3.33 per share, from the earlier projection of $3.17 to $3.31 per share. TJX’s shares fell 2.55% to $42.40 at 9:39 am. Read more from Benzinga's Company news.