Quarterly guidance

Q3 Comp Sales
Up 2 percent to 3 percent.
Q3 Consolidated Sales
Range of $15.6 billion to $15.8 billion, up 3 percent to 5 percent versus last year.
Q3 Adjusted Pretax Profit Margin
Range of 12.3 percent to 12.4 percent, down 30 to 40 basis points versus last year.
Q3 Adjusted Diluted EPS
Range of $1.30 to $1.32, up 2 percent to 3 percent versus last year.
Q4 Comp Sales
Up 2 percent to 3 percent.
Q4 Adjusted Pretax Profit Margin
Range of 11.9 percent to 12 percent, down 20 to 30 basis points versus last year.
Q4 Adjusted Diluted EPS
Range of $1.44 to $1.47, up 1 percent to 3 percent versus last year.

Annual guidance

Full Year Comp Sales
Growth of 3 percent to 4 percent.
Full Year Consolidated Sales
Range of $63.4 million to $63.8 billion, up 5 percent to 6 percent versus last year.
Full Year Adjusted Pretax Profit Margin
Raised to the range of 12 percent to 12.1 percent, up 30 to 40 basis points versus last year.
Full Year Adjusted Gross Margin
Expected range of 31.2 percent to 31.3 percent, up 20 to 30 basis points versus last year.
Full Year Adjusted SG&A
Expected to be 19.5 percent, flat versus last year.
Full Year Adjusted Diluted EPS
Raised to the range of $5.15 to $5.20, up 9 percent to 10 percent versus last year.

Outlook

Consumer environment
Consumers are expected to continue looking for value in the current environment, with TJX positioned as an attractive option for brands and fashions.
Merchandise availability
Product availability continues to be outstanding and off the charts across all categories with more availability in the marketplace than the company can buy.
Store growth
TJX increased its long-term store growth potential by 500 stores to a total of 7,500 stores and plans to accelerate store openings to 4 percent starting next year.
Freight and fuel
Higher fuel costs and freight rates are expected in the back half of the year due to lower driver availability and fuel hedge mark-to-market comparisons.