On August 21, TJX Companies fell 3.04% in regular trading, trading at $140.07/share, with turnover of $1.094 billion. The decline was driven by multiple investment banks lowering price targets following the company's fiscal Q2 earnings release.

Gordon Haskett downgraded TJX from Buy to Accumulate, cutting its target from $175 to $155, while Wells Fargo reduced its target from $160 to $140. The downgrades came after the company issued fiscal Q3 EPS guidance of $1.30-$1.32, below the FactSet consensus of $1.34, and full-year EPS guidance of $5.15-$5.20, missing the $5.22-$5.23 estimate. Additionally, the Marmaxx division experienced category allocation missteps that pressured same-store sales, though management characterized this as a self-inflicted execution issue rather than a structural problem. UBS viewed the Marmaxx shortfall as isolated, expecting inventory rebuilding to drive recovery. The broader apparel retail sector traded lower, with Ross Stores down 2.31%, Burlington down 0.87%, and Boot Barn down 5.16%.

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