News Brief

Sales, Profits Jump At TJX

For proof that America is still looking for bargains, check out the quarterly results from TJX Cos., parent of discounters T.J. Maxx and Marshalls: Sales for its fiscal fourth-quarter are up 10%, and comparable-store sales jumped up 12%. Net income rose to $395 million, from $251 million in the same period a year ago.

"Sales growth was driven by a large increase in transactions as we attracted new customers from all income levels with our compelling values," CEO Carol Meyrowitz says in its release. "We enter 2010 very confident in our future, and believe value will remain key for consumers."--Sarah Mahoney

Tags: earnings, retail
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