TJX Companies Stock Rallies on Raised Profit Forecast Despite Sales Miss, Q1 Results Show 5.9% Total Sales Increase with 20.1% Net Income Growth

TJX Companies, an off-price retailer, has seen a stock rally despite a same-store sales miss and downbeat outlook. The company raised its annual profit forecast due to strong demand and lower costs. Q1 results show total sales up by 5.9%, with US sales up by 5.3% and international sales up by 8.1%. Net income increased by 20.1%, attributed to consumers seeking value and great buying by TJX teams.