Tuesday, May 16, 2017

TJX same-store sales fade, weak outlook spooks Wall Street

This Monday, May 15, 2017, photo shows a Marshalls store in Oklahoma City. The TJX Cos. Inc., parent of T.J. Maxx, Marshalls and other stores, reports financial results Tuesday, May 16, 2017.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.

Read more here: http://www.newsobserver.com/news/business/article150741797.html#storylink=cpy

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

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