Investing.com - TJX Companies Inc's (NYSE:TJX) shares fell on Monday, as investors braced for the company's upcoming earnings scheduled to be released on Tuesday, before the opening bell.
So far, the theme of retailers this earnings season has been improving results, but they have not come easily. Retailers have been forced to cut expenses and close unprofitable stores to survive the changing climate. Buyers are becoming more cost conscious and using online shopping as a tool to bargain hunt. This has posed a major challenge for Brick-and-Mortar retailers.
There has also been a push to offer discounted goods. For example, one factor behind Nordstrom’s recent, positive earnings, was the opening of more discount, Nordstrom (NYSE:JWN) Rack stores and the coiincident closure of regular Nordstrom stores. With TJX Companies an off-price apparel and home fashions retailer there is a reason to be optimistic about the upcoming results.
Analysts expect TJX Companies will earn $0.84 per share on $8.32 billion in revenue in the quarter. The company topped earnings expectations by 3.8% in the prior quarter and by 3.7% in the year-over-year quarter.
TJX Companies' shares were down over 2% in their final stretch of trading ahead of the closing bell.