Financial News

TJX Companies Ups Profit Outlook; Sales Rise

NEW YORK -- The TJX Companies Inc. on Thursday lifted its adjusted fourth-quarter profit outlook to a range of 97 cents a share to $1.01 a share, from its earlier estimate of 89 cents a share to 94 cents a share. Wall Street analysts expect the Framingham, Mass. retailer to earn 93 cents a share, according to a survey by FactSet Research. TJX said its December same-store sales rose 2%. Wall Street analysts expected the apparel seller to report a drop of 2.5% in same-store sales, according to a survey by Thomson Reuters. Total sales rose 6% to $3 billion. "I am extremely pleased with December's sales results, as we significantly exceeded our plans during this important period," TJX Chief Executive Officer Carol Meyrowitz said.
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