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Shares of the company, which owns T.J. Maxx, fell about 7% to $60.40 in premarket trading.
The pandemic-triggered restrictions in Europe and Canada due to the fast-spreading Omicron variant hit TJX (NYSE:TJX)’s sales growth, although the company said its fourth-quarter sales were trending higher before the surge in Omicron cases.
The company’s net sales rose to $13.85 billion in the quarter ended Jan. 29, from $10.94 billion a year earlier. That missed analysts’ estimates of $14.22 billion, according to Refinitiv IBES data.
Net income of the HomeGoods owner rose to $940.2 million, or 78 cents per share, from $325.5 million, or 27 cents per share, a year earlier.
