Revised Title: Parent Company of T.J. Maxx Increases Profit Outlook Due to Decreasing Expenses and Stable Demand

TJX Cos Inc, the parent company of HomeGoods and T.J. Maxx, has raised its annual profit forecast for 2024. The company is expecting adjusted profit per share to be between $3.39 and $3.48, up from its previous range of $3.29 to $3.41. This is due to lower costs and resilient demand from consumers switching to discount retailers. Despite this, shares of the company fell 2% in premarket trading as it missed first-quarter revenue estimates. Net sales rose to $11.78 billion in the first quarter, from $11.41 billion a year earlier, missing analysts’ estimates of $11.82 billion.