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Earnings Roundup / Tjx

Preliminary results exceeded

February 26, 2009|Times Wire Reports

TJX Cos., owner of the T.J. Maxx and Marshalls chains, said fiscal fourth-quarter profit exceeded preliminary results after it cleared last season's merchandise with fewer markdowns than planned.

Net income in the quarter ended Jan. 31 dropped to $250.7 million, or 58 cents a share, from $301.1 million, or 66 cents, a year earlier.

Earnings excluding some one-time items were 55 cents a share, TJX said. The Framingham, Mass., company said Feb. 5 that adjusted profit would be 50 cents to 51 cents a share. Analysts had expected 51 cents, according to a poll by Thomson Reuters.

Fourth-quarter revenue fell to $5.38 billion from $5.39 billion, short of the $5.4 billion analysts predicted.

TJX shares rose $1.58, or 7.3%, to $23.12.

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