FRAMINGHAM, Mass. (AP) — TJX, the parent company of TJ Maxx and Marshalls clothing stores, said Thursday that its November revenue at stores open at least a year rose 3 percent, falling short of Wall Street expectations.
Analysts polled by Thomson Reuters expected a 3.6 percent increase.
Revenue at stores open at least a year is a key gauge of a retailer’s health because it excludes results from stores recently opened or closed.
Shares of TJX fell 64 cents to $43.40 before the market open.
CEO Carol Meyrowitz said in a statement that the Framingham, Mass., company experienced strong business throughout Thanksgiving week and weekend, with customers seeking out its stores for bargains.
For the four weeks ended Nov. 24, revenue climbed 7 percent to $2.2 billion.
Year-to-date revenue at stores open at least a year increased 7 percent, while total revenue rose 10 percent to $20.3 billion.
Earlier this month TJX Cos. reported third-quarter revenue that topped analysts’ expectations and raised its full-year earnings forecast.
TJX runs 1,039 T.J. Maxx, 912 Marshalls, and 417 HomeGoods stores in the U.S.; 222 Winners, 88 HomeSense, and 14 Marshalls stores in Canada and 344 T.K. Maxx and 24 HomeSense stores in Europe.