August 16, 2011
TJX Profits Up 14 Percent In Q2
Framingham-based clothing and home goods retailer TJX Cos. Inc. reported profits of $348 million for the second quarter, up 14 percent from $305 million a year ago.
Net sales were also up, totaling $5.5 billion for the quarter, an increase of 8 percent from the second quarter last year. The company's largest division, Marmaxx, which includes Marshalls and T.J. Maxx, saw sales increase 10 percent to $3.6 billion.
The company repurchased 5.9 million shares of stock during the quarter at a cost of $311 million and raised its earnings-per-share outlook for the year to a range of $3.78 to $3.86.
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