You can now read 5 articles in a month for free on Read as much as you want anywhere and anytime for just 99¢.

Around the Region

Quarterly income up 35% at TJX

Overall revenue at TJX stores rose 9 percent.

Jessica Rinaldi/Reuters

Overall revenue at TJX stores rose 9 percent.

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.

Continue reading below

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.

Loading comments...
Want each day's news headlines delivered fresh to your
inbox every morning? Just connect with us
in one of the following ways:
Please enter a valid email will never post anything without asking.
Privacy Policy
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of
Marketing image of