TJX stock rises after upping full-year EPS guidance

Shares of the TJX Companies (TJX) are rising after the company posted a 3% jump in comparable sales and raised its full-year EPS guidance.

Yahoo Finance's Seana Smith and Brad Smith break down the retail giant's earnings and what they signal about consumer spending.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Melanie Riehl

Video transcript

Let's talk about another retailer here on the move this morning.

A trending ticker here on Yahoo Finance and that's TJ X shares are rising up just about 2% of the company lifting its earnings guidance for the full year.

Also posting a 3% jump in com sales seeing heightened demand from its home goods store.

So that has been a stand out here at least for this quarter.

We take a look at this off price retailer, some of the other tidbits that we're getting from these results, many of it, they're saying that general consensus on the street that this is very much in line with expectations, gross margin was in line with consensus.

Although just ahead of what the management's plan was, it does expect Mangin to be a little bit more optimistic about their business on the conference call that's happening right now.

That was the latest, no doubt from citi their quick reaction to these numbers.

But again, we are seeing more and more consumers trading down hurt by these higher prices, shopping at names like TJ X like home goods and clearly that is benefiting these results just a bit looking for deals, no matter whether the T shirt that actually matches the shorts that you're getting is in the home goods department or somewhere else in the store.

Ultimately, here, one of the huge things that this company is looking at going forward here for the quarter that they actually mentioned is off to a good start and see numerous opportunities for their business for the balance of the year.

Given this environment in the longer term, they're also excited about the potential that they see to drive customer transactions and sales.

You think about those customer transactions.

They were also strong in this quarter.

They said they saw com sales growth at every division entirely driven by customer transactions.

So that kind of underscoring the strength of the value proposition for consumers that are trying to value hack right now by looking for deals and discounts.