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TJX Profit Up 47% As Retailer Sees More Customers;View Raised

Wall Street Journal - Nov 17, 2009

TJX Cos.' (TJX) fiscal third-quarter earnings surged a stronger-than-expected 47% as the company continues to attract more customers despite a retail slump.

It also boosted its earnings forecast for the rest of the year a second time. But shares of the discount retailer dropped 1.9% to $38.76 in premarket trading as the increased view may not have been as much as some were hoping for. The stock is up 92% this year through Monday.

President and Chief Executive Carol Meyrowitz said, "We achieved record third-quarter results, driven by significant increases in comparable store sales and customer traffic that have continued to accelerate. We believe that our values and our great selections of fashions and brands will continue to resonate with the new customers we are attracting today when times improve."

Read Full Article from Wall Street Journal

- Posted: 2009-11-17 09:32:37


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