TJX revenues rise 10% to surpass $12B
Photo/Grant Welker
TJX's Framingham headquarters
TJX Cos. is continuing to be a bright spot in a struggling retail industry.
The Framingham retailer's fourth-quarter net sales rose 10% to surpass $12 billion, the company reported early Wednesday, sending stock prices up around 7% to $64 a share.
TJX's same-store sales rose 6% and net income for the quarter hit $985 million. The latter figure was up 17% from the prior year. In the past 12 months, TJX's net income has totaled nearly $3.3 billion, a jump of 7% from the prior year.
Diluted earnings per share were 81 cents, a 19% increase versus the prior year’s 68 cents.
TJX continues to expand its store count at a time when a lot of competitors are closing stores or having to go out of business. The company had 4,529 stores at the close of fiscal 2020, up from 4,306 at the start of the year. That growth took place both at the company's core chains, T.J. Maxx and Marshalls, as well as with HomeGoods, Homesense and Sierra lines and stores abroad.
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