Street View: Marmaxx slowdown stokes consumer demand concerns
BUZZ-Street View: Marmaxx slowdown stokes consumer demand concerns ** TJX Companies TJX.N on Wednesday reported a slowdown at its TJ Maxx and Marshalls discount apparel chains in the second quarter, dwarfing a quarterly beat and stoking concerns about weakening U.S. consumer demand
** Median PT of 23 brokerages covering the stock is $178
MARMAXX WEAKNESS SEEN FIXABLE
** Jefferies ("buy", PT: $180) says the Marmaxx chain's weak quarter stems from merchandising and inventory allocation mistakes rather than soft demand; expects it to recover as those issues are fixed
** William Blair ("outperform") says weak Marmaxx comp sales and softer Q3 guidance increased slowing-growth concerns, though TJX could find support once investors gain greater clarity on expected downward earnings revisions
** BTIG ("buy", PT: $190) says Marmaxx's underperformance appears correctable and is already improving, while strength across HomeGoods and international operations highlights the benefits of TJX's diversified business
(Reporting by Shania S Thomas in Bengaluru)
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Street View: Marmaxx slowdown stokes consumer demand concerns