TJX Companies Beats on Earnings, Raises Outlook as Stock Rallies

TJX Companies (TJX) saw its stock jump Tuesday following a big earnings beat. The owner of companies including TJ Maxx and Marshalls reported a 6 percent year on year sales increase and has raised its outlook for 2015. TJX posted earnings of $0.69 per share, an increase on last year's $0.64 per share. Revenue came in at $6.86 billion, also beating Wall Street estimates. TJX topped retail competitors such as Macy's (M) and Urban Outfitters (URBN), which both reported lower than expected results. The chain of discount stores is planning to raise worker wages to at least $9 an hour starting next month. TJX was hit by currency fluctuations but saw a strong increase on profit margins.