Top 5 Earnings to Watch This Week

4. The TJX Companies, Inc. (NYSE:TJX)

Number of Hedge Fund Holders: 49

Shares of The TJX Companies, Inc. (NYSE:TJX) closed higher on Wednesday, August 17, 2022, after beating profit expectations for its fiscal second quarter. The off-price department stores operator reported earnings of 69 cents per share, above the consensus of 67 cents per share.

On the downside, the quarterly revenue of $11.8 billion missed the estimates of $12.04 billion. The TJX Companies, Inc. (NYSE:TJX) said its sales apparently took a hit from weak consumer spending amid inflation.

For the full year, The TJX Companies, Inc. (NYSE:TJX) lowered its adjusted earnings outlook to a range of $3.05 – $3.13 per share, compared to its previous guidance of $3.13 – $3.20 per share.

Speaking on the results, CEO Ernie Herrman said:

“Looking ahead, while we are not immune to macro factors, we are convinced that the flexibility of our off-price business model and the value proposition we offer to a wide range of consumers will continue to serve us well, as we have seen throughout our 46-year history.”