TJX Jan. Sales Rise, Exceed Expectations
Sales for Framingham-based TJX Cos. Inc. continued to climb in January, coming in ahead of the company's expectations.
The off-price retailer, whose store brands include T.J. Maxx, Marshalls and HomeGoods, notched a 3- percent increase in same-store sales compared to last year. For the 52-week, year-to-date period that ended Jan. 26, comparable store sales were up 7 percent over the same period last year.
Total sales for January were $1.9 billion, compared with $1.4 billion last year. For the fiscal year, sales were $25.9 billion, up 12 percent over the previous year's $23.2 billion.
CEO Carol Meyrowitz said the company is again raising its fourth-quarter earnings outlook to be between 80 and 81 cents per share, a 29 to 31 percent increase over last year. For the full year, expectations have been raised to $2.53 to $2.54 per share, a more than 25-percent growth compared to last year.
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