TJX Boosts Bottom Line by 47.5 Percent in Third Quarter
November 17, 2009,
FRAMINGHAM, Mass.--Third-quarter net income for The TJX Cos. reached $347.8 million, up a dramatic 47.5 percent from the third quarter of a year ago.
The company managed net sales of $5.2 billion, a 10 percent increase over last year's third quarter, which included a 7 percent pickup in same-store sales. Among other positive results, U.S. same-store sales for TJX's Marmaxx division (encompassing Marshalls and T.J. Maxx stores) jumped 9 percent, and comparable-store sales for HomeGoods rose 13 percent in the quarter. The sales performance offset a 7 percent rise in selling, general and administrative expenses and an increase of 7.5 percent in cost of goods sold.