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00:02TJX Companies reported slowing second quarter sales at TJ Maxx and Marshalls,
00:08offsetting strong home goods growth and raising concerns about weaker U.S. consumer spending,
00:14according to Reuters. The discount retailer continued to attract bargain shoppers,
00:18but its apparel-focused MarMax division faced challenges ahead of the key back-to-school
00:23and holiday seasons. TJX reported second quarter adjusted earnings of $1.22
00:29per share on revenue of $15.18 billion, topping expectations of $1.19 per share and $15.16
00:38billion. The company raised its fiscal 2027 earnings forecast to $5.31 to $5.36 per share
00:48and maintained its comparable store sales growth target of 3% to 4%. However, comparable sales at
00:55its MarMax division, which includes TJ Maxx and Marshalls, slowed to 1% from 6% in the previous
01:01quarter. CEO Ernie Herman said the company could have executed its store mix better and called
01:07the issues self-inflicted. For all things money, visit Benzinga.com.
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