TJX Beats Q3 Estimates, Raises 2014 Guidance
TJX shares were up today following the release of the company's Q3 2014 results. For the quarter, net sales came in at $6.98 billion, an improvement over $6.41 billion in the same period the previous year. Net income landed at $623 million ($0.86 per diluted share), which is substantially higher than Q3 2013's $462 million ($0.62).
Analysts had expected revenue of $6.90 billion and EPS of $0.74.
The company also provided forward guidance. It maintained the outlook for its current Q4, in which it anticipates diluted EPS of $0.77 to $0.80. Q4 2013's figure was $0.82, but $0.08 of this was due to an extra week in the company's fiscal calendar for that year.
Thanks to the improvements in Q3, TJX has raised its projections for the entirety of fiscal 2014. The company now believes diluted EPS will be $2.91 to $2.94. The fiscal 2013 figure was $2.55.
Following the announcement of the results, TJX stock inched up by 1%, or $0.63, to close the day at $63.12.
The article TJX Beats Q3 Estimates, Raises 2014 Guidance originally appeared on Fool.com.Fool contributor Eric Volkman has no position in TJX. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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