By Nicholas G. Miller
T.J. Maxx parent TJX Cos. reported higher first-quarter sales and raised its full-year guidance as the off-price retailer continues to draw customers in a cautious consumer environment.
The company posted net income of $1.33 billion, or $1.19 a share, compared with $1.04 billion, or 92 cents a share, the year prior. Analysts polled by FactSet had expected $1.02 a share.
Net sales rose to $14.32 billion from $13.11 billion. Wall Street had expected $14.02 billion.
Comparable sales rose 6%. Analysts had forecast 4.1%.
The company raised its fiscal-year comparable sales growth guidance to 3% to 4%, up from its previous forecast of 2% to 3%. It also now expects fiscal-year earnings of $5.08 to $5.15 a share, up from its prior outlook of $4.93 to $5.02 a share.
Wall Street sees full-year comparable sales growth of 3.4% and adjusted earnings of $5.13 a share.
For the second quarter, the company guided for comparable sales to be up 2% to 3% and earnings per share to be between $1.15 and $1.17.
TJX has seen strong sales growth as its bargains on branded goods have given it an edge over competitors among inflation-weary and cautious consumers.
"We are convinced that the flexibility and resiliency of our off-price business model will continue to be a tremendous advantage," said Chief Executive Ernie Herrman.
Write to Nicholas G. Miller at nicholas.miller@wsj.com
(END) Dow Jones Newswires
May 20, 2026 07:49 ET (11:49 GMT)
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