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Fly News Breaks for August 15, 2017
BURL, ROST, TJX
Aug 15, 2017 | 10:56 EDT
Wells Fargo analyst Ike Boruchow says that TJX's (TJX) better than expected Q2 results bode well for the off-price retail sector. The analyst notes that the company's merchandise margins rebounded in Q2, even though its overall gross margins came in below expectations due to "losses on inventory hedges," Other companies in the sector include Ross Stores, (ROST) and Burlington Stores (BURL). The analyst keeps Outperform ratings on all three stocks.
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