TJX Reports Record Sales, Earnings For Q3

 

The TJX Companies is reporting record sales and earnings results for the third quarter ended October 31 as customer traffic in all the company’s brands continues to grow.

Net sales for the fiscal third quarter increased 10% to $5.2 billion and consolidated comparable store sales increased 7% over last year. Net income from continuing operations for the third quarter was $348 million.

For the first nine months of the company’s fiscal year, net sales were $14.3 billion, a 5% increase over last year, and year-to-date consolidated comparable store sales increased 5% over the prior year. Net income from continuing operations was $819 million.

“We achieved record third-quarter results, driven by significant increases in comparable store sales and customer traffic that have continued to accelerate,” said Carol Meyrowitz, president/CEO of The TJX Companies. “We believe that our values and our great selections of fashions and brands will continue to resonate with the new customers we are attracting today when times improve.”

As a result of continued strong sales, the company is raising its outlook for the fourth quarter and full year. For the fourth quarter, the company now expects comparable store sales growth of approximately between 5% and 7% and for the full year expects comparable stores sales to grow 5%.