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TJX beats 1Q net income and revenue expectations

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FRAMINGHAM, Massachusetts — The TJX Cos. (TJX) on Tuesday reported fiscal first-quarter net income of $474.6 million.

On a per-share basis, the Framingham, Massachusetts-based company said it had net income of 69 cents.

The results surpassed Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share.

The parent of T.J. Maxx, Marshalls and other stores posted revenue of $6.87 billion in the period, also topping Street forecasts. Twelve analysts surveyed by Zacks expected $6.81 billion.

TJX expects full-year earnings to be $3.21 to $3.27 per share.

TJX shares have declined roughly 2 percent since the beginning of the year, while the Standard & Poor's 500 index has risen slightly more than 3 percent. The stock has risen 15 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TJX at http://www.zacks.com/ap/TJX

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Keywords: TJX, Earnings Report

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