TJX Proves the Consumer Is Alive and Spending

On Monday, the Commerce Department said retail sales grew 0.1% for the month of April after a 0.5% drop in March. Core sales, which correspond better to consumer spending, climbed 0.5%. February and March sales were upwardly revised, as well. The report was good news for retailers, since most investors had assumed consumer spending would decline amid tax hikes and lackluster job growth. One company that has proven the consumer is still alive and spending is TJX (TJX).

Just last week, TJX said April same-store sales jumped 8% vs. the 6.8% consensus estimate. The company also hiked guidance, as the first quarter has come in better than expected and much stronger than last year. Management also said May sales were off to a solid start. The stock responded, and is now just $0.57 off its 52-week high....267 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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