Shares of discount retailer TJX are trading up on Tuesday after quarterly profit and sales topped estimates and the company raised its outlook going forward. Profit came in at 75 cents a share, that was a couple of cents better than expectations. Revenue rose 7 percent to almost $7 billion, also better than forecasts. Comparable store sales rose 3 percent, which is more than what the retailer itself hoped for. CEO Carol Meyrowitz said, "Our customer traffic gained momentum throughout the quarter. We are pleased with our solid merchandise margins as well as the improved performance of our apparel businesses." TJX believes that it's on track for a good year. It's lifting guidance and expects earnings from this fiscal year to grow between 10 percent and 12 percent from the year before.

If you liked this article you might like

Macy's and J.C. Penney Deliver Post-Holiday Gifts for Investors

Macy's and J.C. Penney Deliver Post-Holiday Gifts for Investors

Will Dying Department Stores Fare Better in 2018?

Will Dying Department Stores Fare Better in 2018?

Overstock CEO: How I Am Using Blockchain to Stop Wall Street Mischief

Overstock CEO: How I Am Using Blockchain to Stop Wall Street Mischief

Too Many Shopping Deals Are Hurting Consumers

Too Many Shopping Deals Are Hurting Consumers

Overstock CEO: Gods of Economics Want Us to Sell to Bricks and Mortar Retailer

Overstock CEO: Gods of Economics Want Us to Sell to Bricks and Mortar Retailer