Bargain-Hunters Boost Sales, Profits At T.J. Maxx 2

  • May 19, 2009
The TJX Companies, parent of both T.J. Maxx and Marshalls, says first-quarter sales inched up 1% to $4.35 billion, and comparable store sales gained 2%. Net income grew to $209 million, up from $193.8 million last year.

The Framingham, Mass.-based company says the results are the strongest in its history, fueled by shoppers looking for brand names at discounted prices, and that customer traffic "increased significantly across virtually all of our divisions."

Still, executives are not breaking out the "Recession's Over!" champagne just yet: "While we are pleased with our above-plan start to the year, we remain cautious in our near-term outlook and are maintaining our conservative approach, as the economic environment remains uncertain."--Sarah Mahoney



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