TJX Profits And Earnings Rise In 2011
Framingham-based retailer TJX Companies Inc. said its sales and profits increased during its fiscal fourth quarter and for the year.
Net sales grew 6 percent to $23.2 billion for the fiscal year ended Jan. 28. For the final quarter, the company's sales were $6.7 billion, up from $6.3 billion during the fourth quarter of 2010.
For the year, profits were $1.49 billion, up from $1.34 billion in 2010. For the fourth quarter, profits were $475.3 million, up 42 percent from $334.4 million a year ago.
TJX also announced plans to repurchase up to $1.3 billion of its stock, which represents about 8 percent of outstanding shares. The company also plans to increase its dividend in May to 11.5 cents per share.
The company opened 46 new stores during 2011.
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