TJX raises FY19 adj. EPS view to $4.10-4.14, consensus $4.86
TJX is raising its full-year guidance to reflect its strong second quarter results. For the 52-week fiscal year ending February 2, 2019, the Company now expects diluted earnings per share to be in the range of $4.83 to $4.88, which represents a 20% to 21% increase over the prior year's $4.04. The Company's full-year guidance includes an expected benefit of approximately $.73 to $.74 per share due to items related to the 2017 Tax Cuts and Jobs Act. Excluding this benefit, the Company now expects adjusted earnings per share to be in the range of $4.10 to $4.14, a 6% to 8% increase over the prior year's adjusted $3.85, which excluded a $.17 net benefit due to items related to the 2017 Tax Cuts and Jobs Act, a benefit of approximately $.11 from the extra week in the Company's Fiscal 2018 calendar, and a $.10 impairment charge related to Sierra Trading Post from GAAP EPS of $4.04. This guidance assumes that wage increases will negatively impact EPS growth by 2%. This EPS outlook is now based upon estimated comparable store sales
: TJX sees Q3 EPS ex-items $1.00-1.02, consensus $1.23
For Q3, TJX expects diluted earnings per share to be in the range of $1.18 to $1.20. Excluding an expected benefit of approximately $.18 per share due to items related to the 2017 Tax Cuts and Jobs Act, the Company expects adjusted earnings per share to be in the range of $1.00 to $1.02, compared to $1.00 last year. This guidance assumes that foreign currency will negatively impact EPS growth by approximately 4% and that wage increases will negatively impact EPS growth by an additional 2%. This EPS outlook is based upon estimated consolidated comparable store sales growth of 2% to 3% and Marmaxx comparable store sales growth of 3% to 4%.
: TJX reports Q2 EPS $1.17, consensus $1.05
Reports Q2 revenue $9.3B, consensus $9B. Reports Q2 SSS up 6%
