Framingham’s TJX Companies reported a strong first quarter with sales and income up 10 percent year-over-year.
The off-price retailer of apparel and home fashion reported a 10 percent increase in net sales to $7.5 billion for the first quarter of fiscal 2017. Net income for the first quarter was $508 million and diluted earnings per share were $.76, a 10 percent increase over the prior year’s $.69.
According to Ernie Herrman, Chief Executive Officer and President of The TJX Companies, Inc., said the company saw strong customer traffic for the quarter and is confident it is growing market share and customer base.
The largest gains in sales, 7 percent when adjusted for currency fluctuations, were a 14 percent bump for TJX Canada, while HomeGoods had a 9 percent bump. The lowest growth was seen by TJX International, which still had a 4 percent increase over the previous quarter.
