(Reuters) -TJX Cos raised annual profit forecast on Wednesday, anticipating that broad sourcing strategy and seasonal inventory will attract bargain-hunting shoppers to its off-price stores.
Shares of the company rose about 3% in premarket trading. They have risen nearly 21% so far this year.
The Framingham, Massachusetts-based company has capitalized on a seasonal shift from late-summer to fall fashion, boosted by back-to-school demand. The company also saw steady store traffic and appetite for discounted merchandise as rising living costs stretch household budgets.
TJX had previously said its expansive sourcing strategy enables it to offset U.S. tariff-related cost pressures by replenishing inventory as needed, helping avoid a direct hit.
The company expects earnings per share for fiscal 2026 to be between $4.63 and $4.66, compared with its previous forecast of $4.52 to $4.57.
It also expects annual comparable sales to increase 4%.
(Reporting by Chandni Shah in Bengaluru; Editing by Shilpi Majumdar)
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