FRAMINGHAM, Mass.–The TJX Cos. reported a profit growth of nearly 20 percent in the first quarter of its fiscal year.
For the three months ended April 26, the off-price retailer’s net income grew to $193.8 million from $162.1 million during the same period in 2007.
Shareholders saw their investments grow to 43 cents per diluted share, from 34 cents, a 26 percent hike.
The profits were based on overall sales of $4.36 billion, or 6.2 percent higher than during the year-ago period.
All domestic units showed sales increases. These included MarMaxx, the group combining Marshall’s and T.J. Maxx, Winners/Home Sense, HomeGoods, and A.J. Wright.
Carol Meyrowitz, president and chief executive officer, said the retailer was continuing to expand in Europe, having opened its first HomeSense stores in the U.K. and another T.K. Maxx store (similar to T.J. Maxx the U.S.) in Germany.
