TJX reported Q2 earnings of $1.22 per share on $15.2 billion sales but warned of slower growth in its largest division.
TJX Companies (TJX) shares fell 1.3% after reporting second-quarter earnings of $1.22 per share, topping estimates of $1.19. Sales reached $15.2 billion, matching expectations, with same-store sales up 4% year over year.
Non-GAAP earnings rose 11%, while GAAP earnings surged 24% to $1.36 per share, boosted by a tariff refund. Most brands outperformed, but Marmaxx, its largest division, lagged. Management projected Q3 growth of just 2%-3%.
TJX expects full-year GAAP earnings of $5.33 per share, including one-time tariff gains, valuing the stock at about 28 times earnings.