Stock Split For TJX
The TJX Cos. Inc. of Framingham has approved a two-for-one stock split, saying the decision reflects its confidence in its ability to continue growing.
The discount retailer noted that its price has approximately tripled since its last stock split in 2002 and said it expects to continue growing both in the U.S. and internationally.
The company also announced an 8 percent increase in both total sales and comparable store sales for December. Sales for the five weeks ended Dec. 31 were $3.3 billion, up from $3 billion from the same period in 2010.
The company said the sales were higher than expected. It attributed the results partly to a decision to reduce prices to stay competitive and to sell off winter coats despite the warm weather so far this winter.
TJX stock was trading at around $64.80 at 10:30 this morning.
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