Nov 20 Reuters TJX Cos raised its annual profit forecast on Wednesday, benefiting from lower costs and strong demand from cashstrapped customers flocking to its offprice stores for products such as apparel and footwear.

The TJ Maxx parent has hit the right spot as customers continue to hunt for value and better deals even as inflationary pressures ease, driving steady traffic and sales at its outlets.

Retailers including TJX, Walmart, and Amazon have rolled out holiday deals on everything from toys to household items earlier than usual as they woo pennypinching shoppers.

The Marshalls chain parent expects annual earnings per share of 4.15 to 4.17, up from its prior forecast of 4.09 to 4.13.

It, however, maintained its target of 3 annual comparable store sales growth. TJX39;s shares, which are up 28 this year, were down 1.3 at the open on Wednesday.

TJX is historically conservative in their guidance while consistent in their results, said BMO Capital Markets analyst Simeon Siegel, adding, the company continues to take share from brands as they have been pivoting away from traditional wholesale partners.

The retailer39;s raised profit expectation comes as mixed forecasts from Walmart and Target have fueled uncertainty around the holiday shopping season.

Walmart, which offers products at the lowest price possible, again raised its annual forecasts. But smaller rival Target, where nonessentials constitute a bigger share of revenue, signaled muted holiday sales….