(Reuters) -TJX Cos Inc raised its annual revenue forecast on Wednesday, banking on decrease prices and resilient demand from inflation-hit customers switching to low cost retailers.

The corporate is beginning to see bills ease in a lift to its margins after months of grappling with sky-high prices associated to uncooked supplies, labor and freight.

TJX (NYSE:) now expects 2024 adjusted revenue per share to be between $3.39 and $3.48, in contrast with its earlier vary of $3.29 to $3.41.

The corporate additionally maintained its full-year gross sales forecast.

Nevertheless, shares of the HomeGoods proprietor fell about 2% in premarket buying and selling because it missed first-quarter income estimates.

The T.J. Maxx father or mother’s web gross sales rose to $11.78 billion within the first quarter, from $11.41 billion a yr earlier, lacking analysts’ estimates of $11.82 billion, in keeping with IBES information from Refinitiv.