T.J. Maxx parent sees higher net income

TJX Cos., the Framingham-based parent of T.J. Maxx and other off-price retail chains, said its second-quarter net income rose 14 percent as it lured in budget-conscious shoppers.

Revenue rose 8 percent to $5.47 billion, topping analysts’ predictions of $5.44 billion.

Net income was up 14 percent to $348 million from $305 million. On a per-share basis, earnings were 90 cents, beating analysts’ predictions for 88 cents.

Unlike many retailers, TJX said its profit margins improved, based on its buying power and the broader selection of goods it can purchase. Many other consumer companies have seen their profit margins fall as they pay more for raw materials needed to make and transport goods.


TJX, which also owns HomeGoods and Marshalls stores, said its good prices are attracting new customers.


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