TJX Q2 Sales UP 7%
Discount retailer TJX Cos. of Framingham reported second quarter net income of $200 million on sales of $4.6 billion.
The $4.6 billion in sales is a 7 percent increase over the same period a year ago. Net income was up from $59 million a year ago, when the company paid out $195.9 million related to the widespread theft of customer credit card information.
The second quarter results include a $10 million after-tax impairment charge related to Bob's Stores, which lost $19.8 million during the quarter compared to a loss of $3.5 million in the second quarter of 2007.
The company, which operates TJ Maxx, HomeGoods, A.J. Wright and other discount retailers, said net sales hit $9 billion in the first half. Net income was $394 million for the same period.
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