HomeGoods parent TJX beats earnings and sales expectations

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TJX Cos. TJX, -1.71% reported fiscal second-quarter net income of $785.7 million, or 64 cents per share, after a loss of $214.2 million, or 18 cents per share, last year. Sales totaled $12.08 billion, up from $6.67 billion last year. The FactSet consensus was for EPS of 59 cents and sales of $11.00 billion. TJX says second-quarter store closures due to COVID-19, which were primarily in Canada, Europe and Australia, hurt sales by $300 million to $350 million, and EPS by 5 cents to 7 cents. TJX open-only comp store sales, a measure of sales growth at stores open during the most recent quarter and sales of those stores on the same days in fiscal 2020, rose 20%. TJX chains include HomeGoods, TJ Maxx and Marshalls. TJX stock has gained 1.3% for the year to date while the S&P 500 index SPX, -0.71% is up 18.4% for the period.

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