February 28, 2018 / 1:48 PM / a year ago

TJX same-store sales rise as bargains continue to attract shoppers

Feb 28 (Reuters) - Off-price apparel retailer TJX Cos Inc reported fourth-quarter same-store sales on Wednesday that beat analysts’ estimates, as discounts drew shoppers to its Marmaxx and HomeGoods stores during the holiday season.

The company’s shares were up 8.7 percent at $84 in premarket trading.

Same-store sales rose 4 percent in the reported quarter, beating the average analysts’ estimate of 2.1 percent, according to Thomson Reuters I/B/E/S.

Net sales rose to $10.96 billion from $9.47 billion.

The company also raised its quarterly dividend by 25 percent to 39 cents per share and said it would repurchase about $2.5 billion to $3 billion worth of shares this fiscal year. (Reporting by Nivedita Balu in Bengaluru; Editing by Shounak Dasgupta)

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