Thursday, March 1, 2018

TJX shares soar thanks to sales hike

Boston Herald
Shares of TJ Maxx, Marshalls and HomeGoods’ parent company shot up almost 10 percent yesterday after the Framingham off-price retailer said it missed fourth-quarter profit expectations, but topped revenue forecasts, and reported strong comparable-store sales and said it will buy back up to $3 billion in stock.

TJX Cos. Inc. also announced it would use federal tax reform savings to give one-time cash bonuses to non-bonus-plan associates globally, increase its contribution to all associates’ retirement plans, and institute paid parental leave and enhanced vacation benefits for eligible U.S. workers. It will also accelerate planned investments in technology, store growth and upgrading its store experiences, and raise its quarterly dividend.. . . more