| 10 weeks 1 day 14 hours ago TJX 1Q profit rises nearly 20%
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BOSTON (AP) - TJX Cos. says its first-quarter profit rose nearly
20 percent as it continues to draw shoppers increasingly looking
for bargains in a tough economy.
The Framingham, Mass.-based discount retailer said Tuesday it
earned $193.8 million, or 43 cents per share, in the quarter. That
compares with a profit of $162.1 million, or 34 cents per share, a
year earlier.
Not counting a $12 million tax benefit in this year's first
quarter, TJX's profit was 41 cents per share, matching the
consensus estimate of analysts surveyed by Thomson Financial.
TJX's revenue rose 6 percent in the latest period to $4.36
billion, just shy of analysts' forecast of $4.39 billion. Sales at
stores open at least a year rose 3 percent.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
