TJX Trumps Wall Street Despite Warmer-Than-Usual Fall Season
Off-price retailer TJX Cos. (NYSE:TJX) reported Tuesday a slightly better-than-expected third-quarter profit, as consumers sought cold-weather attire despite a warmer-than-usual September and October. The operator of discount apparel and home fashions stores such as T.J. Maxx, Marshalls, Homegoods and A.J. Wright, posted net income of $372 million, or 92 cents a share, compared with $347.78 million, or 81 cents a share, in the same quarter last year. Revenue for the Framingham, Mass-based company was $5.5 billion, up 5% from $5.24 billion a year ago, driven by 1% growth in comparable store sales.