TJX Gains As Consumers Go Bargain Hunting

  • May 14, 2008
Who says consumers aren't buying clothes? While retail sales have been down across the category, there are some bright spots.

The TJX Companies, parent of such discount retailers as T.J. Maxx, Marshalls and HomeGoods, says first-quarter sales gained 6% to $4.4 billion, while consolidated comparable store sales increased 3% over last year. Net income for the company hit $194 million, from $162.1 million in the same period last year.

"We once again drove strong sales, merchandise margins, and profit growth despite the challenges of the consumer environment and unfavorable weather in the first two months," the Framingham, Mass.-based company says in its release, adding that it is continuing its international expansion plans.

--Sarah Mahoney

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