Feb 25 (Reuters) – TJX Cos forecast annual sales and profit below Wall Street estimates on Wednesday as budget-conscious consumers pared discretionary spending amid macroeconomic uncertainty.
The TJ Maxx and Marshalls parent faces mounting concerns over declining nice-to-have purchases as living costs continue to rise. Margin pressures are also intensifying, with economic challenges weighing on its core customer base, primarily lower-income shoppers, leading to smaller basket sizes and softer demand.
TJX expects annual comparable sales to rise between 2% and 3%, compared to analysts’ average estimate of a 3.5% growth, according to data compiled by LSEG.
It sees earnings per share for fiscal 2027 to be between $4.93 and $5.02, compared to analysts’ average estimate of $5.18 per share.
However, the off-price retailer reported quarterly revenue of $17.74 billion, compared with analysts’ average estimate of $17.36 billion.
(Reporting by Neil J Kanatt in Bengaluru; Editing by Pooja Desai)
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