Tuesday, TJX Companies Inc. (TJX) reported that its profit soared in the third quarter, and fellow retailers Dillard's Inc. (DDS) and Saks Inc. (SKS) said they swung to year-over-year profits in the same period.
TJX posted earnings of $347.8 million, or 81 cents per share, compared with $235.8 million, or 54 cents, in the year-ago period. Analysts had expected TJX to earn 80 cents a share. Sales rose 10% to $5.24 billion, while same-store sales increased 7%.
TJX raised its EPS guidance range of 65 cents to 71 cents per share for the fourth quarter, and to $2.55 to $2.61 per share for the full year.
Dillard's said it earned $8 million, or 11 cents per share, compared with a loss of $56 million, or 76 cents per share, a year ago, due to lower expenses and a tax benefit. Sales declined 9.9% from a year ago to $1.36 billion. The Little Rock, Ark.-based company also noted that year-ago results included hefty store closing charges and hurricane-related expenses.
Saks' earnings of a penny per share came as a surprise; analysts had expected a loss of 11 cents per share. Revenues fell 8.5% from a year ago to $631.4 million, topping the consensus estimate of $624.4 million. Saks also said same-store sales slipped 10.1% in the third quarter.
While the New York-based company said business trends are improving, it also warned that it remains cautious.
Tuesday, Dillard's shares climbed $1.18, or 8.9%, to close at $14.51, while Saks shares rose 26 cents, or 4.1%, to $6.67. TJX, on the other hand, slipped 1.5%, or 61 cents, to close at $38.91.
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