TJX beats Street 2Q forecasts; current outlook falls short

(AP) — T.J. Maxx's parent company reported a second-quarter profit and sales results Tuesday that beat Wall Street expectations as shoppers keep flocking to its stores to grab name brands at deep discounts.

TJX Cos., which also operates HomeGoods and Marshalls among other stores, raised its profit guidance for the year but offered a third-quarter outlook that fell short of expectations.

The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 80 cents per share.

The company expects revenue at stores opened at least a year to rise 3 percent to 4 percent, from the previous estimate of 2 percent to 3 percent.

Elements of this story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research.