TJX first-quarter net sales rose over 13% to $11.41 billion, but missed analysts' average estimate of $11.59 billion, hurt by lower demand at its HomeGoods division.
Excluding items, TJX earned 68 cents per share in the quarter ended April 30, topping estimates of 60 cents.
The company reported a profit of $13.23 million in its international segment, compared to a loss of $221.6 million last year.
Costs across the retail industry have been surging through the pandemic due to supply-chain snarls, production issues and worker shortages, forcing companies from big-box players such as Walmart to off-price retailers such as TJX to protect margins by raising prices.
As inventory builds amid reduced consumer spending, TJX will be able to buy merchandise at steeper discounts, supporting its margins better than other retailers, CFRA analyst Zachary Warring said.
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