TJX Companies Shares Slide as Retailer Misses Sales Estimate
November 14 2017 - 9:31AM
Dow Jones News
By Cara Lombardo
Shares in TJX Cos. dropped 6% premarket after the discount
retailer's same-store sales were flat in its latest quarter.
Consolidated same-store sales, which includes results from TJ
Maxx, Marshalls, HomeGoods and non-U.S. stores, were flat from a
year before, falling below the 2.3% increase that analysts from
Consensus Metrix forecasted. Same-store sales increased 5% the year
before.
The Massachusetts company also missed revenue estimates, but
matched earnings estimates. The company's third-quarter revenue
increased 7% to $8.76 billion, while analysts had expected $8.86
billion. TJX's net income was $641 million, or $1 a share, in line
with analysts' expectations.
TJX shares are down 5.8% this year.
Write to Cara Lombardo at cara.lombardo@wsj.com
(END) Dow Jones Newswires
November 14, 2017 09:16 ET (14:16 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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