Jim Cramer Believes “Nobody Does Off-Price Better Than TJX”

The TJX Companies, Inc. (NYSE:TJX) was among the stocks Jim Cramer discussed in this changing market. Cramer commented on the company’s latest earnings, as he said:

Last week, we reached the part of the earnings season where we hear from the big retailers, and so far, calling it a mixed bag. Rather than taking them in chronological order, I want to go by the quality of the numbers. At this point, we’ve heard from six major retail chains. Two are legitimately strong, two are okay, two are disappointing. Let’s take them from best to worst… The best so far was TJX. That’s that off-price kingpin that you know as TJ Maxx, Marshalls, maybe the very popular HomeGoods as well as being a long-time holding for my Charitable Trust. I’ve owned this one for ages. TJX delivered a robust top and bottom line beat with a 6% same store sales growth. Wall Street was only looking for 4.1%. HomeGoods was up 9%. Overall, they had 9% revenue growth and reported a 17-cent earnings beat… Do you know that represents 29% earnings growth? Stellar numbers.

TJX also raised its full-year forecast across the board, and it raised its buyback by a quarter billion dollars. When the consumer’s feeling nervous about the economy, they flock to the off-price chains, and nobody does off-price better than TJX. No wonder the stock jumped 5.7% last Wednesday in response to that quarter. Hey, by the way, Ross Stores is the next best off-price play, they also put up a great set of numbers last Thursday. We hear from the third major player in the group, Burlington Stores, tomorrow morning, should be good.

The TJX Companies, Inc. (NYSE:TJX) sells off-price apparel, footwear, accessories, and home goods. The company offers a wide range of merchandise, including clothing, beauty items, furniture, decor, kitchenware, and seasonal products.

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