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TJX, the operator of off-price retail chains T.J. Maxx and Marshalls, forecast current-quarter profit below estimates, due to wage increases and a strong dollar, which eroded revenue from outside the United States.
Shares of the company, which also owns HomeGoods stores, fell 3 percent in premarket trading.
TJX forecast third-quarter profit of 83-85 cents per share, compared to the 90 cents analysts on average had expected.
TJX sells apparel and accessories brands such as Dolce & Gabbana and Versace priced at between 20-60 percent lower than at most retailers.
The company, which has stores in Canada, the UK and Australia, got more than a fifth of its sales from stores outside the United States in the second quarter.
The retailer reported a bigger-than-expected increase in quarterly comparable sales as more bargain-hungry shoppers visited its stores.
"It was terrific to see our strong customer traffic and comps continue in the second quarter," Chief Executive Ernie Herrman said in a statement.
The company's comparable-store sales rose 4 percent in the second quarter ended July 30, up for the 30th quarter in a row. That was above the 3.5 percent increase analysts on average were expecting, according to a poll by research firm Consensus Metrix.
TJX, like other off-price retailers and fast-fashion chains such as Zara and H&M, offers chic and trendy clothes at lower prices to lure shoppers from department stores such as Macy's and Nordstrom and other mall-based chains.
TJX's net income rose 2.3 percent to $562.2 million, or 84 cents per share. Net sales rose 7 percent to $7.88 billion.
Analysts on average had estimated a profit of 81 cents and revenue of $7.85 billion, according to Thomson Reuters I/B/E/S.
TJX also raised its profit forecast for the year ending January 2017 to $3.39 to $3.43 per share from $3.35 to $3.42 it expected earlier, but this was still short of the average analyst estimate of $3.48 per share.