What happened
Shares of TJX (TJX 1.20%), an off-price apparel and home-fashions retailer, jumped as much as 5.5% on Tuesday. The stock's gain follows the retailer's second-quarter results for its fiscal 2019. As of 3:20 p.m. EDT, the stock is up 4.6%.
Bullishness toward TJX on Tuesday is likely because the company's net sales, earnings per share, and comparable-store sales growth were all well above consensus analyst estimates.
Image source: Getty Images.
So what
TJX's second-quarter results were strong across the board. The company reported net sales of $9.3 billion, up 12% year over year. Meanwhile, earnings per share rose from $0.85 in the year-ago quarter to $1.17. On average, analysts were expecting net sales of $9.0 billion and EPS of $1.05.
TJX's comparable-store sales growth of 6% during the quarter was particularly impressive. Not only was it double TJX's comparable-store sales growth in Q1, but it also crushed management's guidance for comparable-store sales growth of 1% to 2%.
Now what
With such a strong quarter behind it, management unsurprisingly lifted its outlook for the full year.
Excluding a benefit from the 2017 Tax Cuts and Jobs Act, management expects its adjusted earnings per share for the company's fiscal 2019 to be between $4.10 and $4.14, up 6% to 8% over fiscal 2018 EPS. Previously, management had expected fiscal 2019 EPS between $4.04 and $4.10.
