By early afternoon, shares had dropped 6.6% to $54.52.
The company earned 64 cents a share, which though higher year over year, missed expectations by 3 cents according to analysts polled by Thomson Reuters.
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Revenue of $6.49 billion, though nearly 5% higher year over year, fell short of an expected $6.6 billion.
Also pushing shares lower, management shaved 2 cents off full-year earnings guidance, now expecting profits between $3.05 and $3.17 a share. Analysts had expected $3.19 a share.
TheStreet Ratings team rates TJX COMPANIES INC as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate TJX COMPANIES INC (TJX) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in stock price during the past year, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company shows low profit margins."
- You can view the full analysis from the report here: TJX Ratings Report