TJX reported Q1 EPS of $1.19 on $14.32 billion revenue, exceeding forecasts and prompting a full-year guidance raise.
TJX Companies posted first-quarter diluted earnings per share of $1.19, up 29% from $0.92 a year earlier and above the $1.02 analysts expected. Revenue rose 9% to $14.32 billion, surpassing the $14 billion consensus estimate.
Comparable store sales increased 6%, led by HomeGoods with a 9% gain, while pretax profit margin expanded to 12.0% from 10.3%. Gross margin improved to 31.3% from 29.5%, driven by better merchandise margins and cost leverage.
TJX raised its full-year comparable sales growth forecast to 3%-4% from 2%-3% and lifted its EPS guidance to $5.08-$5.15 from $4.93-$5.02. The pretax profit margin outlook was also increased to 11.9%-12.0%.