Growth Slowed at TJX Last Quarter, but It's No Big Deal
A lot of retailers have been struggling in 2019, but TJX Companies (NYSE: TJX) started the year with a stellar 5% comparable-store sales increase in the first quarter. The off-price retail giant raised its full-year guidance slightly on the back of that strong performance.
However, comp sales growth slowed last quarter. TJX still achieved its guidance, which was very conservative -- as usual for the company -- but it fell short of analysts' expectations. Despite this small setback, TJX is well positioned to bounce back and deliver stronger sales and earnings in the quarters (and years) ahead.
Comp sales rose 2% at TJX in the second quarter, compared to the company's forecast for a 2% to 3% increase. Analysts had been expecting a 3.1% increase. Total sales rose 4.8% year over year to $9.78 billion.
Source Fool.com
