TJX lowers its forecast as consumers cut discretionary spending

TJX Cos, which operates HomeGoods, Marshalls and T.J. Maxx, has cut its annual earnings forecast after pointing to a slowdown in discretionary spending necessitated by rising prices. The retail chain operator expects adjusted per-share earnings of $3.05 to $3.13 in the current fiscal year, down from its guidance of $3.13 to $3.20.