Will TJX Companies' Robust Comps Run Continue To Drive Stock?
Zacks Investment Research | Nov 28, 2019 08:27PM ET
The TJX Companies, Inc. (NYSE:TJX) has been benefiting from robust comparable sales (comps), courtesy of rise in consumer traffic and strong merchandising policies. Also, comps have been benefitting from the company’s robust off-price model, strategic store locations and impressive brand strategies. All these factors have driven TJX Companies’ top and the bottom line amid hurdles like increased supply-chain expenses.
Notably, this trend continued in third-quarter fiscal 2020, with the top and the bottom line surpassing estimates and increasing year on year. Encouragingly, management raised its bottom-line guidance for fiscal 2020. This development has made analysts more appreciative of the company’s performance. Evidently, the Zacks Consensus Estimate for fiscal 2020 earnings has moved up by a couple of cents to 77 cents per share in the past 30 days.
In fact, the company’s stellar past performance has long been boosting investors’ optimism in the stock. Shares of this Zacks Rank #2 (Buy) company have increased 10.9% in the past three months compared with the Zacks Investment Research
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