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Shoppers at a TJ Maxx store in New York.
Scott Mlyn | CNBC
Cash-strapped consumers may be pulling back on discretionary purchases at Target, but they’re spending big on name brands and home goods at off-price TJX Cos.
The discounter raised its full-year outlook on Wednesday after posting a 7.7% year-over-year sales jump and a 23% rise in profits. It cited high customer traffic and a windfall of premium merchandise that it secured from higher-end retailers eager to offload their bloated inventories.
Here’s how TJX Cos. did during its fiscal second quarter, compared with what Wall Street was anticipating, based on a survey of analysts by Refinitiv:
- Earnings per share: 85 cents vs. 77 cents…
Source cnbc.com
