All articles tagged with #tjx
TJX, the parent company of T.J. Maxx, HomeGoods, and Marshalls, is implementing body cameras for its loss prevention associates to deter theft and promote a safer environment in its stores. The footage from these cameras will only be accessible to law enforcement or legal representatives with a subpoena. This move follows similar security measures by other retailers like Target to combat increasing retail theft.
TJX, the parent company of TJ Maxx, Marshalls, and HomeGoods, is equipping some store employees with police-like body cameras to deter shoplifting and enhance safety. While the initiative aims to reduce theft and protect workers, some employees and criminologists question its effectiveness and suggest that better training and staffing might be more beneficial. The use of body cameras in retail is part of a broader trend, with other retailers and countries adopting similar measures. However, concerns remain about the potential risks and the impact on employee privacy and safety.
Off-price retailers like TJX Companies and Ross are thriving due to persistent inflation and rising prices for essentials, which have driven consumers to seek value. These retailers have also become more appealing to younger shoppers and are seen as growth channels by brands. Both companies reported better-than-expected fiscal first-quarter earnings, with TJX and Ross posting sales gains of 6% and 8%, respectively. The trend is expected to continue as consumers prioritize value, and brands increasingly partner with these retailers to reach a broad array of income levels.
TJX reported strong quarterly earnings, showcasing the resilience of the retail sector, while investors are now looking to Salesforce's upcoming earnings report for insights into the technology industry's performance.
TJX Cos. reported a 13% increase in holiday sales, surpassing Wall Street's expectations with earnings per share of $1.22 and revenue of $16.41 billion. The off-price retailer, which includes T.J. Maxx, Marshall's, and HomeGoods, has thrived by offering discounted premium products amid inflation. While its holiday performance was strong, concerns about inventory levels and future demand persist as the company's guidance falls short of some analysts' expectations.
Target, TJX, Sirius XM, and Advance Auto Parts are among the stocks experiencing significant premarket movement.
Target's stock soared over 13% after beating earnings estimates, while Advance Auto Parts' stock fell 1.5% due to mixed Q3 results and lowered guidance. TJX disappointed with holiday quarter guidance despite beating Q3 expectations, and Goodyear's stock rose 6.2% after announcing a transformation plan. JD's stock rose 4.9% as the Chinese e-commerce giant posted a surge in quarterly profit.
Walmart, Target, and TJX are set to release their earnings reports this week following a stronger-than-expected July sales report. Retail sales in July rose 0.7%, exceeding economist forecasts, with online retailers and sporting goods stores experiencing significant growth. Piper Sandler lowered its price target on Target stock due to expectations of a decline in comparable-store sales. Analysts expect a major turnaround in Target's earnings, but a dip in sales. TJX is expected to have better products and increased traffic, with analysts forecasting double-digit earnings growth. Evercore ISI added Walmart to its "Tactical Outperform List" ahead of earnings, anticipating solid traffic and margin recovery. Walmart's earnings have been accelerating in recent quarters.
The S&P 500 always rallies in the year following the end of a bear market, with some stocks jumping an average of 30% or more in just 12 months after the end of a bear market. Retailer Target is a big-time favorite stock in new bull markets, with shares of the company topping the S&P 500 in each year following the past five times the market rallied 20% from a bear-market low. Other top-performing stocks include TJX Companies and Tyler Technologies.
Western Alliance's deposit growth for the current quarter exceeded $2 billion, causing shares to rise 12% premarket. TJX Companies' shares fell about 1% after reporting a revenue miss and lower-than-expected guidance. Target surpassed earnings expectations in the fiscal first quarter, but expects sales to remain sluggish in the current quarter. Keysight Technologies' shares soared 7.8% following an earnings beat. Wynn Resorts' shares rose 2.7% after an upgrade to overweight from equal weight at Barclays. Tesla's shares rose 1.5% premarket after announcing the delivery of its first Cybertrucks later this year.