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TJX reports 6.6% rise in Q2 net sales, ups FY'17 guidance

TJX Cos. Inc. reported net income for the fiscal second quarter ended July 29 of $553.0 million, or 85 cents per share, a 1.6% decrease in the aggregate from $562.2 million, or 84 cents per share, in the prior-year period.

The S&P Capital IQ consensus EPS estimate for the second quarter was 84 cents.

The company expects EPS in the range of 98 cents to $1.00 for the fiscal third quarter. TJX Cos. also expects EPS for the 53-week fiscal 2018 year to range between $3.89 and $3.93. This includes an 11-cent-per-share benefit from the 53rd week in the company's fiscal 2018 calendar. Excluding this benefit, the company expects adjusted diluted EPS in the range of $3.78 to $3.82.

The S&P Capital IQ consensus GAAP and normalized EPS estimate for fiscal 2018 was $3.82 to $3.89 as of Aug. 10.

Net sales for the second quarter amounted to $8.40 billion, up 6.6% year over year from $7.88 billion.

Income before taxes declined 2.5% year over year to $891.7 million from $914.6 million.