TJX, the owner of brands like T.J. Maxx and Marshall’s, boosted its earnings guidance after same-store sales jumped a whopping seven per cent in June.
The retailer increased full year guidance to a range of $2.31 to $2.39, above earlier estimates for $2.27 to $2.37.
“Customer traffic during the month increased substantially at every division which speaks to the tremendous appeal of our values, brands and fashions for consumers,” CEO Carol Meyrowitz said.
However, T.J. Maxx isn’t alone with better than expected numbers.
June same-store figures have been released by a number of major U.S. retailers. Below an early roundup:
- Macy’s (M): +1.2% vs. est. +2.3%
- Costco (COST): +3% vs. est. +4%
- Walgreen’s (WAG): -10% vs. est. -7.6%
- Target (TGT): +2.1% vs. est. +2.8%
- Nordstrom (JWN): +6.8% vs. est. +4.4%
- Saks (SKS): +6% vs. est. +4.2%
- Rite Aid (RAD): -1% vs. est. 0.9%
- Limited Brands (LTD): +7% vs. est. 2.6%
- Cato Corp (CATO): -10% vs. est. 0%
- Ross Stores (ROST): +7% vs. est. 4.6%
- Buckle (BKE): -2.5% vs. est. 4.1%