TJX Profit Up Sharply as Sales Climb
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TJX Cos., parent of T.J. Maxx and Marshalls stores, said its profit soared 55% in its fiscal fourth quarter ended Jan. 31, boosted by higher sales in all divisions. The weak dollar also raised profits from its European and Canadian operations.
The Framingham, Mass.-based retailer reported net income of $238.7 million, or 47 cents a share, up from $154.3 million, or 29 cents, a year earlier. Sales increased 3% at stores open at least a year, and total sales rose 17% to $4.11 billion.
Shares of TJX rose 10 cents to $23.78 on the NYSE.
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