(Reuters) - TJX Cos ( TJX ) on Wednesday forecast annual comparable sales growth and profit below Wall Street estimates amid concerns over reduced customer spending.

U.S. customer spending has taken a hit from high interest rates and persistent inflation for two years. Now, President Donald Trump's new tariff on Chinese goods and proposed levies on some other countries have cast a further shadow over the economy.

TJX, which sources its products globally, particularly from China, India and southeastern Asia, is vulnerable to disruptions in operations from the impact of the tariffs.

The retailer, however, beat analysts' estimates for the crucial holiday quarter and announced a plan to repurchase shares worth $2 billion to $2.5 billion during fiscal 2026.

The TJ Maxx parent expects its comparable store sales to grow between 2% and 3% during fiscal 2026, compared with analysts' average estimate of a 3.4% rise, according to data compiled by LSEG.

The company also expects annual earnings per share in the range of $4.34 to $4.43, compared with the estimate of $4.59 per share.