TJX raises annual profit forecast

TJX Cos. has reported a strong start to the fiscal year, with first-quarter earnings of $1.19 per share surpassing market estimates.

The retailer saw a significant increase in customer traffic across its stores, prompting it to raise its full-year EPS outlook to a range of $5.08 to $5.15.

Executives noted that consumers are increasingly prioritizing value in a cautious economic environment, a trend that has allowed TJX to gain market share from traditional department stores.

The company also announced an expansion of its share buyback program to $3 billion, reflecting confidence in its long-term growth trajectory.