Shoppers love a deal – the perception of one anyway – which explains how TJX Companies continues to defy gravity by posting another quarter of strong same store sales growth and improved profitability.
The leading off-price retailer of apparel and home fashions in the U.S. and worldwide said sales for its first quarter ended April 30 increased 10% to $7.5 billion and same store sales increased 7% on top of a prior year increase of 5%. Net income for the first quarter was $508 million and earnings per share increased 10% to 76 cents from 69 cents.. . . more