: TJX’ stock jumps 3.8% premarket after retailer beats estimates and raises guidance

TJX Cos.’ stock TJX rose 3.8% in premarket trade Wednesday, after the discount retailer swept past estimates for the second quarter and raised its guidance. Framingham, Mass.-based TJX had net income of $989 million, or 85 cents a share, up from $810 million, or 69 cents a share, in the year-earlier period. Sales rose to $12.758 billion from $11.843 billion a year ago, also ahead of the $12.450 billion FactSet consensus. Same-store sales rose 6% to beat the FactSet consensus of 2.9%. CEO Ernie Herrman said the numbers were ahead of the company’s own expectations. “Our overall apparel and accessories sales were very strong. Overall home sales significantly improved and returned to positive comp sales growth, with HomeGoods posting a 4% comp sales increase. TJX Canada and TJX International also both delivered comp sales growth and customer traffic increases,” Herman said in a statement. The company raised its guidance and now expects full-year same-store sales to rise 3% to 4%, while FactSet expects 3% growth. It expects full-year EPS of $3.66 to $3.72, while FactSet expects $3.59. The stock has gained 8% in the year to date, while the S&P 500 SPX has gained 16%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.