The TJX Companies (NYSE:TJX) reported impressive fiscal second-quarter earnings results, improving its top and bottom lines. In addition, it hit its all-time price high of $76.16 on August 24. However, does the stock have more room for growth in the face of the threat of rising COVID-19 Delta variant infections? Read on.Off-price apparel and home fashion retailer The TJX Companies, Inc.’s (TJX) business was negatively impacted by the COVID-19 pandemic, leading to temporary store closures. The Framlington, Mass.-based concern closed stores for roughly 3% of its fiscal second quarter compared to 31% in its first quarter. However, only 40 of its Australian stores are closed now, and all stores in the United States, Canada, and Europe are open.
The stock has gained 11.2% in price over the past month and 12.7% over the past three months to close yesterday’s trading session at $75.81. It is currently trading just 0.5% below its all-time high of $76.16, which it hit on August 24.
TJX could continue to benefit by capitalizing on “revenge spending” and offering a ‘Treasure-hunt’ like shopping experience. The company should see more customers returning to its stores.