A weak outlook overshadowed strong quarterly profit at TJX and shares slid more than 3 percent at the opening bell Tuesday.
The TJX Cos., which operates
T.J. Maxx and Marshalls, also reported disappointing comparable-store
sales, a key indicator of a retailer's health for industry analysts.
Same-store sales rose 1 percent, well below the 8 percent gain during
the same period a year ago. Analysts had expected a 1.6 percent gain,
according to FactSet. It was a slowdown from the 3 percent gain in the
fourth quarter and represented a rare miss for a retailer that has been a
stellar performer in an otherwise difficult retailing environment.. . . more