5 Stocks in Focus After Posting Their Earnings Reports

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

Number of Hedge Fund Holders: 56

Shares of The TJX Companies, Inc. (NYSE:TJX) plunged to a nearly 15-month on Wednesday, February 23, 2022, after the Massachusetts-based off-price retail giant failed to meet profit and sales expectations for its fiscal fourth quarter.

The TJX Companies, Inc. (NYSE:TJX) earned 78 cents per share, up from 27 cents per share in the year-ago period. Revenue for the quarter rose 27 percent on a year-over-year basis to $13.9 billion. The results missed the consensus forecast of 91 cents per share for earnings and $14.26 billion for revenue.

The TJX Companies, Inc. (NYSE:TJX) also released its earnings outlook for the first quarter. It guided for earnings in the range of 58 – 61 cents per share, in line with analysts’ average estimate of 59 cents per share.

Speaking on the results, CEO Ernie Herrman said in a statement:

“Our home businesses across all of our divisions delivered phenomenal open-only comp store sales performance, and overall apparel open-only comp store sales increased high-single digits in Fiscal 2022. While freight and wage cost pressures remain elevated, we are pleased that our retail pricing strategy is working very well.”