TJX Companies (TJX) posted "disappointing" Q3 earnings, with earnings per share only in-line with estimates of $1.00 per share (+10% y/y) on revenue growth of 6% y/y to $8.8 billion that was below estimates. The stock initially dropped on the news, but with other retailers posting strong numbers across the board, shares are about 1% higher than where they started the week.

Q3's results, combined with continued strong capital allocation, a robust business model, and management's honest assessment of performance, act as further evidence that TJX should be a long position in almost all portfolios. I love the company, and I believe shares are worth around $87.

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