TJX Cos. (NYSE:TJX) shares have taken a hit after the company reported first quarter earnings that missed guidance expectations. While the company reported a better-than-expected EPS of $0.76, revenue for the quarter came in at $11.8 billion, slightly below the consensus estimate of $11.81 billion. Comp store sales increased 3%, driven by an increase in customer traffic, while comp-store sales at Marmaxx increased 5%. However, the company’s guidance disappointed, with Q2 EPS expected to be between $0.72 and $0.75, below the consensus estimate of $0.79. In addition, the expected FY2024 EPS of $3.39 to $3.48 also missed the consensus estimate of $3.55. Despite the miss, CEO Ernie Herrman expressed his satisfaction with the company’s performance, noting that the pretax profit margin and earnings per share both significantly exceeded their plan.
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