TJX Analysts Boost Their Forecasts After Upbeat Results

The TJX Companies, Inc. TJX reported better-than-expected first-quarter financial results on Wednesday.

The company reported first-quarter FY25 sales growth of 5.9% year-on-year to $12.479 billion, beating the analyst consensus estimate of $12.463 billion. Overall comp store sales increased 3%. EPS of 93 cents beat the consensus estimate of 87 cents, according to data from Benzinga Pro.

TJX continues to expect to repurchase about $2 billion – $2.5 billion in fiscal 2025.

Ernie Herrman, Chief Executive Officer and President of The TJX Companies, Inc., said, “Our teams across the Company executed on our initiatives and were laser-focused on delivering consumers exciting values on great brands and fashions and a treasure-hunt shopping experience, every day. We saw comp sales growth at every division entirely driven by customer transactions, which underscores the strength of our value proposition. This also gives us confidence in our ability to gain market share across all of our geographies. The second quarter is off to a good start and we see numerous opportunities for our business for the balance of the year that we plan to pursue. Longer term, we are excited about the potential we see to drive customer transactions and sales, capture additional market share, and increase the profitability of TJX.”

TJX continues to plan FY25 overall comparable store sales growth of 2%-3%. The company expects FY25 EPS of $4.03-$4.09 (up from $3.94-$4.02) against the consensus of $4.10.

For the second quarter, TJX expects overall comparable store sales to be up 2%-3%. It expects EPS of $0.88 – $0.90, against the consensus of $0.94.

TJX shares gained 3.5% to close at $101.12 on Wednesday.

These analysts made changes to their price targets on TJX after the company reported quarterly results.

• Telsey Advisory Group raised the price target on TJX from $112 to $115. Telsey Advisory Group analyst Dana Telsey maintained an Outperform rating.
• Baird increased TJX price target from $110 to $113. Baird analyst Mark Altschwager maintained an Outperform rating.

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