TJX - TJX Companies (TJX) Stock Moves on Mixed Q2 Earnings
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TJX Companies (NYSE:TJX) stock is on the move Wednesday after releasing mixed results in its earnings report for the second quarter of fiscal 2023.
Included in that report are diluted earnings per share of 69 cents. That’s better than the 67 cents per share Wall Street was expecting from the department store company. Even if it’s an increase over the 64 cents per share reported in the same period of the year prior.
Unfortunately for TJX stock, its revenue of $11.84 billion was unable to surpass the $12.05 billion that analysts were looking for. Investors will also note that this is a drop from the company’s revenue of $12.08 billion reported in the second quarter of fiscal 2022.
TJX Updated Its 2023 Outlook
Another negative in the most recent TJX Companies earnings report is a reduced outlook for its fiscal full year of 2023. This has it expecting adjusted EPS to range from $3.05 to $3.13. It’s previous guidance was for adjusted EPS between $3.13 and $3.20.
Ernie Herrman, president and CEO of TJX Companies, said the following in the earnings report.
“Looking ahead, while we are not immune to macro factors, we are convinced that the flexibility of our off-price business model and the value proposition we offer to a wide range of consumers will continue to serve us well, as we have seen throughout our 46-year history.”
TJX stock started off down in early morning trading today. However, the company’s shares are up 1.9% as of late Wednesday morning.
Investors searching for more of the latest stock market news are in luck!
We’ve got all of the hottest stock market news traders need to know about for Wednesday. Among that is what’s happening with shares of Manchester United (NYSE:MANU), Endo International (NASDAQ:ENDP), and meme stocks today. You can find out all about these matters at the links below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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