New York -- Target and TJX Cos. both reported better-than-expected results in May, with a 4.4% and an 8% increase in same-store sales, respectively. Wall Street expected Target same-store sales to be up 3.5% in May and forecasted TJX sales to rise 5.3%.
TJX's strong performance in May even prompted the company to raise its forecast to the high end of its previous earnings estimate. And Target saw strength from such categories as food, clothing and health supplies, which helped push results to high end of the retailer’s expected range. “We’re confident that Target is well-positioned to continue delivering a superior guest experience and strong financial performance