May 13, 2008
Earnings Up At TJX
By Eileen Kennedy
TJX Cos. Inc. of Framingham increased its first quarter revenues by 6 percent and profits to nearly $200 million, according to the company.
The discount retailer's first quarter revenue increased 6 percent to $4.4 billion, compared to $4.1 billion at the same time last year.
Its net income for the first quarter was $194 million, compared to $162.1 million. TJX also reported unexpected positive tax-related adjustments of $12 million in the first quarter, compared to Q1 2007 when there was an after-tax charge of $12 million in connection with the massive data breach that saw many customers' personal identification information compromised.
The company's same store sales rose by 3 percent in the first quarter, compared to a 2 percent increase for the same time last year.
TJX companies include T.J. Maxx, Marshalls, HomeGoods, A.J. Wright and Bob's Stores.
The discount retailer's first quarter revenue increased 6 percent to $4.4 billion, compared to $4.1 billion at the same time last year.
Its net income for the first quarter was $194 million, compared to $162.1 million. TJX also reported unexpected positive tax-related adjustments of $12 million in the first quarter, compared to Q1 2007 when there was an after-tax charge of $12 million in connection with the massive data breach that saw many customers' personal identification information compromised.
The company's same store sales rose by 3 percent in the first quarter, compared to a 2 percent increase for the same time last year.
TJX companies include T.J. Maxx, Marshalls, HomeGoods, A.J. Wright and Bob's Stores.
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