TJX boosts outlook

TJX Cos., the Framingham retailer that operates such chains as T.J. Maxx, Marshalls, HomeGoods, said it is raising its outlook for its third quarter and full year performance.

With the recession causing many consumers to cut back on spending, shoppers are gravitating to stores that they see as offering bargains and good value. TJX is a beneficiary of this trend.

"With October sales trending significantly above the company’s expectations, TJX now expects comparable store sales to increase in October by 9 percent to 11 percent," TJX said in a press release. "For the third quarter of fiscal 2010, the company now expects diluted earnings per share from continuing operations to be in the range of $.77 to $.79 compared with $.58 in the prior year."

The release added, "For the full year fiscal 2010, TJX now expects diluted earnings per share from continuing operations in the range of $2.46 - $2.54, compared with $2.08 per share last year." (Globe Staff)