TJX Companies Q1 Profit Rises 8% as Shoppers Hunt for Bargains (TJX)
Posted on 3:06 PM, under Earnings, Perception, Stocks
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Discount clothing and home goods retailer The TJX Companies, Inc. (TJX) said Tuesday that its first quarter profit climed 8% from last year’s levels, as consumers in the current economic recession frequented its discount stores looking for bargains.
The Framingham, Massachusetts-based company reported first quarter net income of $209.2 million, or 49 cents per share, compared with $193.8 million, or 43 cents per share, in the year-ago period.
Overall sales for the company, which operates TJ Maxx, Marshalls, and HomeGoods stores, rose 1% in the period to $4.35 billion.
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The Framingham, Massachusetts-based company reported first quarter net income of $209.2 million, or 49 cents per share, compared with $193.8 million, or 43 cents per share, in the year-ago period.
Overall sales for the company, which operates TJ Maxx, Marshalls, and HomeGoods stores, rose 1% in the period to $4.35 billion.
Read the rest of the story.....