TJX Cos. said its fiscal second-quarter earnings rose 14 percent to 348.3 million, or 90 cents a share, up from $305 million, or 74
cents a share, a year earlier. TJX most recently expected per-share
earnings of 88 cents to 89 cents.
Net sales improved 7.9% to $5.47 billion, topping the $5.45 billion
expected by analysts polled by Thomson Reuters. TJX recently reported
that same-store sales rose 4% over last year.
The parent of T.J. Maxx and Marshalls boosted its full-year earnings outlook to $3.89 to $3.97 a share, from a previous forecast for $3.81 to $3.93 a share.
“We are confident in our prospects for the second half of 2011 and our ability to drive sales and profits in the short and long term, through various economic and retail cycles,” Chief Executive Carol Meyrowitz said.