TJX August same-store sales rose 2 percent
Off-price retailer TJX Cos., which runs the T.J. Maxx and Marshalls chains, said that revenue in stores open at least one year, a metric known as same-store sales, rose 2 percent in August, a bit short of what analysts had expected.
Analysts surveyed by Thomson Reuters, on average, expected revenue in stores open at least one year to rise 2.4 percent.
Total revenue for the four weeks ended Aug. 28 rose 6 percent to $1.7 billion from $1.6 billion last year.
Revenue at stores open at least a year is a key indicator of a retailer's performance.
Year-to-date, revenue in stores open at least one year rose 6 percent while total revenue rose 10 percent to $11.7 billion from $10.7 billion.
The company reiterated third quarter net income guidance of 86 to 91 cents per share. Analysts expect net income of 89 cents per share.
TJX predicts revenue in stores open at least one year to be down 1 percent to up 1 percent in September.
TJX operates T.J. Maxx, Marshalls, HomeGoods, and AJWright stores in the United States and Winners, HomeSense Stylesense in Canada. It operates T.K. Maxx and HomeSense in Europe.