Fashion

TJ Maxx Owner Misses Quarterly Sales Estimates


Via

Reuters

Published



February 23, 2022

TJX Cos Inc missed Wall Street estimates for quarterly sales on Wednesday, hit by temporary store closures and fewer customers visiting its stores due to the COVID-19 pandemic .

Maxx account

Shares of the company that owns TJ Maxx, fell about 7% to $60.40 in pre-market trading.

Pandemic restrictions in Europe and Canada due to the rapidly spreading Omicron variant have hit TJX sales growth, although the company said its fourth-quarter sales had trending higher before the number of Omicron cases spiked.

The company’s net sales rose to $13.85 billion in the quarter ended January 29, from $10.94 billion a year earlier. According to Refinitiv IBES data, the analyst estimate is $14.22 billion.

HomeGoods owners’ net income rose to $940.2 million, or 78 cents per share, from $325.5 million, or 27 cents per share, a year earlier.

© Thomson Reuters 2022 All rights reserved.



Source link

news7d

News 7D: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, Sports...at the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button