May 16 TJX Cos Inc, the owner of
off-price chains T.J. Maxx and Marshalls, on Tuesday posted its
slowest comparable-store sales growth in more than 10 quarters,
adding to the gloom in the retail industry.
Shares of the company dipped nearly 5 percent to $73.3
before the bell.
TJX's 1 percent rise in comparable store sales in the first
quarter ended April 29 missed the 1.5 percent rise estimated by
analysts polled by research firm Consensus Metrix.
The company reported a 3.2 percent rise in sales to $7.78
billion in the quarter, from a year earlier.
The Framingham, Massachusetts-based company's net income
rose to $536.3 million, or 82 cents per share, from $508.3
million, or 76 cents per share.
(Reporting by Gayathree Ganesan in Bengaluru; Editing by Maju