TJX Companies, Inc. (TJX) Raise Outlook On Higher Profit

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The TJX Companies, Inc. (NYSE:TJX) released its earnings numbers for the third quarter of the year this morning before the market opened on Wall Street. The company showed earnings per share of 86 cents for the three month period. Revenue at the off-price retailer came in at $7 billion. On this morning’s market shares in the retailer opened a fraction higher.

In the run-up to the release of the earnings report this morning analysts following The TJX Companies, Inc. (NYSE:TJX) were looking for earnings of 74 cents per share from the company on revenue totaling $6.9 billion. Expectations for adjusted earnings per share, the number comparable to that reported by The TJX Companies, Inc. (NYSE:TJX), came in at 75 cents.

TJX Companies earnings

In the same three months of last year The TJX Companies, Inc. (NYSE:TJX) managed to earn 62 cents per share. Revenue in the third quarter of the company’s financial year 2013 came to $6.4 billion. This morning’s positive earnings surprise was supported by better than expected performance of the consumer economy in the third quarter of the year.

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The TJX Companies, Inc. (NYSE:TJX) executives are optimistic about the company’s future as it heads into the all important holiday season. Today’s report saw the company increase its outlook for the fourth quarter of the year on the back of good performance so far in 2013. TJX has beaten expectations in two of the three earnings reports it delivered this year.

TJX Companies performance

The TJX Companies, Inc. (NYSE:TJX) investors have been rewarded for their faith in the company through 2013. The firm’s stock has increased in value by more than 45% since the year began and the growth rate has been reasonably steady throughout the year. In the same period the S&P 500 has gained just over 25%.

Executives from The TJX Companies, Inc. (NYSE:TJX) will host a conference call to discuss these earnings numbers at 11 AM EST this morning. Investors will want to hear about the company’s plans to expand through 2014, and the firm’s hopes for the current quarter as Thanksgiving approaches.