Newscasts - TJX raises annual profit forecast on strong demand for off-price goods

The TJX Companies

20/08/2025 18:17

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Source: 'Reuters - Business videos'

Description: TJX Cos raised its annual profit forecast on Wednesday, betting on resilient demand for apparel and home furnishing at its off-price retail stores, sending its shares as much as 8% higher. Alex Cohen has more.

Short Link: https://refini.tv/476UfK6

Video Transcript:

TJX shares rose as much as 8% Wednesday morning after the off-price retailer raised its annual profit forecast. The owner of TJ Maxx, HomeGoods and Marshall’s also beat estimates for second quarter sales and profit as budget-conscious shoppers flocked to discount stores to sidestep uncertainties around how the Trump Administration's tariffs will impact prices. One analyst said the treasure hunt shopping model helps keep these stores busy and customers engaged. This is in contrast to department stores which face margin pressure and store closures. Other analysts have pointed out that off-price retailers such as TJX could avoid a direct hit from US tariffs on Chinese imports in the near term, thanks to their expansive sourcing strategies. TJX said just that on Wednesday, indicating it could offset cost pressures even if the current US import tariffs remain for the rest of the year. The company now expects comparable store sales growth of 3%, versus its prior forecast of 2% to 3%.