TJX Cos., the Framingham-based company that operates such retail chains as T.J. Maxx, Marshalls, and HomeGoods, said Tuesday that its fiscal third-quarter net income climbed 35 percent as sales improved at its stores in the US and internationally.
The company, whose stores sell off-price clothing, home goods, and other items, also boosted its full-year earnings forecast to account for its strong third-quarter results.
For the period ended Nov. 2, TJX earned $622.7 million, or 86 cents per share. A year earlier, the company earned $461.6 million, or 62 cents per share. Stripping out a tax benefit of 11 cents per share, earnings were 75 cents per share in the latest quarter. Analysts polled by FactSet expected earnings of 74 cents per share.
Revenue increased 9 percent to $6.98 billion from $6.41 billion, topping Wall Street’s estimate of $6.91 billion.
Shares of TJX rose 63 cents to $63.12.
Sales at stores open at least a year, a key gauge of a retailer’s health, rose 5 percent. This figure excludes results from stores recently opened or closed.
TJX anticipates fiscal 2014 adjusted earnings between $2.80 and $2.83 per share. It previously predicted earnings of $2.74 to $2.80 per share. The company maintained its outlook for fourth-quarter earnings in a range of 77 cents to 80 cents per share.
Analysts predict full-year earnings of $2.86 per share and fourth-quarter earnings of 85 cents per share.