TJX Companies’ and Ross Stores’ Margins Hit by Higher Costs
Including the favorable impact of a tax benefit, TJX Companies’ (TJX) adjusted EPS rose 26% to $0.63 in the third quarter of fiscal 2019, which ended on November 3. Analysts had expected the leading off-price retailer to deliver adjusted EPS of $0.61. TJX Companies’ earnings growth was driven by higher sales, reduced net interest expenses, and a lower effective tax rate. The company’s fiscal 2019 third-quarter EPS also benefited from a lower diluted share count, reflecting the impact of share repurchases.