TJX: 3Q net sales rose 11 percent
TJX Cos., the Framingham-based retailer that operates such off-price chains as T.J. Maxx, Marshalls, and HomeGoods, said Tuesday that third-quarter net sales rose 11 percent to $6.4 billion from a year ago and because of its “strong momentum,” the company added that it is raising full-year guidance.
Net income for the quarter was $462 million versus $406 million last year. Diluted earnings per share were 62 cents, up 17 percent; that increase was “above plan,” TJX said in a press release.
For the fourth quarter, TJX said it expects diluted earnings per share to be in the range of $.72 to $.75, which would represent a 16 percent to 21 percent increase over $.62 per share last year.
For the fiscal year ending Feb. 2, TJX added that it is raising its guidance for diluted earnings per share by a penny. The company said it now expects diluted earnings per share for the full year to be in the range of $2.45 to $2.48, compared with $1.93 on a reported basis for the previous fiscal year.Chris Reidy can be reached at firstname.lastname@example.org.