TJX beats Q1 estimates, raises full-year outlook as shoppers flock to off-price stores

TJX Companies Inc (NYSE:TJX) reported stronger-than-expected first-quarter results on Wednesday, as a surge in customer traffic across all its retail banners lifted sales and profit above estimates. Net sales rose 9% year over year to $14.3 billion, topping the $14 billion consensus estimate, while diluted earnings per share jumped 29% to $1.19, well above the $1.02 analysts had forecast.