Investing.com - TJX Companies Inc (NYSE:TJX) topped analysts expectations for its second quarter results, with the company earning $0.85 per share on revenue of $8.36 billion. Analysts were looking for TJX to earn $0.84 on revenue of $7.76 billion.
Driving the expectation-topping result was a 3.0% increase in comparable sales in the second quarter, above the consensus estimate for a 2.3% gain. Comparable sales were up 7% for the HomeGoods and TJX Canada businesses.
"Customer traffic was up and was the primary driver of our comp store sales growth at every division and overall merchandise margin was up, which we see as excellent indicators of the fundamental strength, consistency, and flexibility of our business," said CEO Ernie Herrmann.
Following these quarterly results, the company increased its full year EPS guidance to $3.89 to $3.93 versus the prior guidance of $3.80 to $3.89.