TJX: June same-store sales rose 7 percent
TJX Cos., the Framingham company that operates such retail chains as T.J. Maxx, Marshalls, and HomeGoods, said Thursday that June same-store sales rose 7 percent and added that it is raising its second-quarter and full-year guidance.
Same-store sales, also known as comparable store sales, are sales at stores open at least a year. Wall Street analysts view same-store sales as a key metric of a retailer’s performance.
TJX chief executive Carol Meyrowitz said the company’s 7-percent same-store sales gain
“significantly exceeded our expectations.”
The consensus estimate of analysts surveyed by Thomson Reuters I/B/E/S was a 4.2 percent increase.
In a press release, TJX said it is now expecting second quarter earnings per share to be in the range of $.52 - $.53, which would represent double-digit growth on top of double-digit growth in last year’s second quarter. For the full year, TJX said it is raising its EPS guidance to $2.31 - $2.39.Chris Reidy can be reached at email@example.com.