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TJX Companies, Inc. (NYSE: TJX) -- parent of T.J. Maxx, Marshalls, Home Goods, and other stores in which budget-conscious fashionistas scramble for bargains -- demonstrated that it is budget-minded as well today when it reported its latest quarterly earnings figures. The company's first-quarter profit rose 8% on a year-over-year basis to $209.2 million, or 49 cents per share. Overall sales ticked up 1% to $4.35 billion, while same-store sales rose 2%. Earnings numbers were roughly on par with Street estimates, while sales were slightly ahead of the mark -- analysts were expecting per-share results of 49 cents on $4.32 billion in sales.
Looking ahead to the second quarter, TJX officials projected an earnings range of 43 cents to 49 cents per share, hitting analysts' target view of 43 cents per share. While the retail sector has certainly forged a rocky path in recent months, discount retailers such as TJX and Wal-Mart Stores, Inc. (NYSE: WMT) have held their proverbial heads above water, as consumers seek out bargains and discounted alternatives.
At the closing bell, TJX had tacked on roughly 4% to encroach upon the $30 level. The stock has been in rally mode since early March, rising nearly 40% during the past two-plus months.
Beth Gaston Moon works for The Options News Network (www.ONN.tv), a media outlet focused on providing daily options commentary. The above comments are not intended as trading or investment advice.
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