February 26, 2020 / 1:19 PM / a month ago

TJX same-store sales top expectations, shares rise

(Reuters) - TJX Cos Inc (TJX.N) topped quarterly same-store sales estimates on Wednesday, as more customers shopped at the off-price retailer’s T.J. Maxx and Marshalls’ stores during the holiday shopping period, sending its shares up 6%.

The company reported a 6% rise in comparable-store sales, trouncing the average analyst estimate of a 3.03% rise, according to IBES data from Refinitiv.

Net income rose to $984.8 million, or 81 cents per share, in the fourth quarter ended Feb. 1 from $841.5 million, or 68 cents per share, a year earlier.

Reporting by Aditi Sebastian in Bengaluru; Editing by Anil D'Silva

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