Sales rise at TJX

Discount-store operator TJX Cos., which operates the T.J. Maxx and Marshalls chains, said today that its same-store sales rose 4 percent in August to top Wall Street expectations.

Same-store sales, or sales at stores open at least a year, is a key indicator of retailer performance since it measures growth at existing stores rather than newly opened ones.

Analysts polled by Thomson Financial expected a 3.8 percent rise.

Total sales for the four-week period ended Sept. 1 rose 7 percent to $1.4 billion.

Year-to-date, same-store sales rose 4 percent while total sales rose 8 percent to $9.2 billion.
(AP)