TJX jumps 4% to a new high after earnings — here's what investors love about the report

TJX Companies shares climbed to an all-time high Wednesday after reporting better-than-expected fiscal first-quarter results Wednesday. The report showcased the off-price retailer's appeal to bargain-hunting shoppers and prompted us to boost our price target on the stock. Total revenue for the three months ended May 4 advanced 6% year over year, to $12.48 billion, exceeding analysts' forecasts of $12.46 billion, according to estimates compiled by LSEG.

That's above the $841 million returned in the year-ago period . The company last month announced a 13% increase to its quarterly dividend payout. Our investment thesis is fully intact. TJX's goal isn't to just provide cheap goods. It's about offering "good, better and best" products that appeal to a broad group of shoppers, as Herrman explained on the call.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Here's a point-by-point rundown on why we're buying more of 3 portfolio stocksWith this trade, we are upgrading LIN and TJX to a 1 rating and reiterating our 1 rating on SWK shares.
Source: CNBC - 🏆 12. / 72 Read more »

Here are Thursday's biggest analyst calls: Nvidia, Meta, Tesla, IBM, UPS, Five Below, Amazon, TJX Companies & moreHere are Thursday's biggest calls on Wall Street.
Source: CNBC - 🏆 12. / 72 Read more »

Jim Cramer's top 10 things to watch in the stock market WednesdayAI chipmaker Nvidia's earnings report after the bell Wednesday is the main event on Wall Street. Target falls after earnings. TJX climbs.
Source: CNBC - 🏆 12. / 72 Read more »