TJX Companies raised its full-year profit forecast on Wednesday after reporting stronger-than-expected second-quarter results, but TJX stock fell after the company's near-term guidance disappointed investors. Maxx, Marshalls, and HomeGoods now expects full-year diluted earnings per share of $5.31 to $5.36, up from a prior range of $5.08 to $5.15, the company said. Full-year pretax profit margin guidance was raised to 12.3% to 12.4%, from a previous range of 11.9% to 12%.
TJX maintained its annual comparable store sales growth outlook of 3% to 4%. For the third quarter, TJX expects adjusted diluted earnings per share of $1.30 to $1.32. That fell short of analyst expectations of $1.35, according to .
TJX stock was down about 3% in premarket trading Wednesday. In the second quarter ended August 1, TJX posted net income of $1.52 billion, or $1.36 per diluted share, compared with $1.24 billion, or $1.10 per share, in the same period a year earlier. Net sales rose to $15.18 billion from $14.4 billion.
Comparable sales grew 4%, the company said. Second-quarter results were boosted by $331 million in refunds on tariffs previously paid under the International Emergency Economic Powers Act. Excluding the net benefit from those refunds, adjusted diluted earnings per share were $1.22, and adjusted pretax profit margin was 11.9%, up 0.5 percentage points from the prior year.
Chief Executive Officer and President Ernie Herrman said that Marmaxx comparable sales landed at just 1%, while HomeGoods, TJX Canada, and TJX International each achieved comparable sales gains in the 6% to 7% range. "The third quarter is off to a strong start, and we are seeing improvement at our Marmaxx division to start the quarter," Herrman said in a statement. TJX returned $1.3 billion to shareholders in the second quarter through share repurchases and dividends, the company said.
For fiscal 2027, TJX is still targeting buybacks in the range of $2.75 billion to $3.0 billion. TJX also unveiled plans to lift its pace of new store openings to 4% starting in fiscal 2028, while setting a higher long-term global target of 7,500 locations — an addition of 500 stores — across its current retail banners.
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