Company raises fiscal 2024 sales and profit targets
TJX posts Q3 revenue of 13.27 bln vs est of 13.09 bln
Analysts say Q4 profit forecast below expectations
Shares drop about 4

Nov 15 Reuters TJX Cos forecast currentquarter profit below Wall Street expectations on Wednesday, signaling that spiraling costs were weighing on the offprice retailer39;s margins even as it saw steady demand from bargainhungry customers.

The company39;s shares, which are up about 16 this year, fell 4 in early trading.

The company, like several other U.S. retailers, has been struggling with higher costs linked to supply chain and wages, even as it has seen freightrelated expenses come down from its peak.

TJX39;s downbeat forecast was in contrast to that of Target. The bigbox retailer said on Wednesday that it was expecting fourthquarter profit above analysts39; estimates, helped by easing supplychain costs and a tighter control on inventory.

TJX39;s fourthquarter guidance has been slightly conservative, Jane Hali Associates analyst Jessica Ramirez said, adding that this did not feed investors39; expectations as offprice retailers are typically seen as winners in a volatile macro environment.

TJX now expects fourthquarter adjusted earnings per share of between 97 cents and 1, down from its previous forecast of between 1 and 1.03. Analysts estimate a profit of 1.13 per share, according to LSEG data.

For the third quarter, TJX saw selling, general and administrative expenses climb 18….