Why Off-Price Retailer TJX Companies' Stock Is Sliding Today
Portfolio Pulse from Shivani Kumaresan
TJX Companies Inc (NYSE:TJX) reported Q3 FY24 sales of $13.3 billion, surpassing estimates, with comparable store sales up 6%. Gross profit margin expanded to 31.1%, and EPS of $1.03 beat estimates. However, the company's Q4 adjusted EPS forecast was revised down, leading to a 2.96% drop in stock price.
November 15, 2023 | 4:25 pm
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NEGATIVE IMPACT
TJX Companies reported strong Q3 results with sales and EPS beating estimates, but the stock slid due to a lowered Q4 EPS forecast.
TJX's stock price is likely to be negatively impacted in the short term due to the lowered Q4 EPS forecast, despite the strong Q3 performance. The revision of the Q4 outlook below consensus may concern investors about future profitability, overshadowing the positive Q3 results.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100