TJ Maxx Owner Outperforms, Signaling More Frugal US Shopper (2)

TJX Cos. posted sales last quarter above estimates and raised its outlook, signaling that US shoppers are turning to cheaper options as the economy shows signs of stress.

The discounter, which runs chains including TJ Maxx and Marshalls, said revenue hit $15.1 billion. Analysts on average expected about $14.9 billion. Its comparable sales topped estimates, too.

TJX raised its guidance for comparable sales to a gain of 4% this year, up 1 percentage point from a forecast in August. It also boosted its earnings outlook.

WATCH: Target and TJX report earnings.

Source: Bloomberg

Last quarter’s results are “exceptional, especially as they build on a very long run ...