TJX Posts Earnings Beat Despite Slowdown
TJX Companies reported an earnings beat for the second quarter alongside increased annual profit forecasts. However, a slowdown at its core Marmaxx division weighed on shares.
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TJX Companies reported second-quarter net sales rose 5.4% to $15.18B, beating estimates, though a slowdown at its core apparel division clouded the results. The Framingham, Massachusetts-based retailer faced weaker demand at its TJ Maxx and Marshalls discount chains across the United States. Shares fell 3% in midday trading following the earnings release.
