FRAMINGHAM, Massachusetts — TJX said Tuesday that its fiscal third-quarter net income climbed 35 percent as sales improved at its stores in the U.S. and internationally.
The performance beat Wall Street's view. The company, whose stores sell discounted clothing, home goods and other items, also boosted its full-year earnings forecast to account for its strong third-quarter results.
The stock rose in premarket trading 20 minutes before the market open.
For the period ended Nov. 2, TJX Cos. earned $622.7 million, or 86 cents per share. A year earlier, the Framingham, Massachusetts, company earned $461.6 million, or 62 cents per share. Stripping out a tax benefit of 11 cents per share, earnings were 75 cents per share in the latest quarter. Analysts polled by FactSet expected earnings of 74 cents per share.
Revenue increased 9 percent to $6.98 billion from $6.41 billion, topping Wall Street's estimate of $6.91 billion.
Shares of TJX added 51 cents to $63 in premarket trading.
Sales at stores open at least a year, a key gauge of a retailer's health, rose 5 percent. This figure excludes results from stores recently opened or closed.
In the U.S., sales climbed at HomeGoods, T.J. Maxx and Marshalls. Sales also rose at TJX Europe and TJX Canada.
TJX anticipates fiscal 2014 adjusted earnings between $2.80 and $2.83 per share. It previously predicted earnings of $2.74 to $2.80 per share. The company maintained its outlook for fourth-quarter earnings in a range of 77 cents to 80 cents per share.
Analysts predict full-year earnings of $2.86 per share and fourth-quarter earnings of 85 cents per share.
TJX had 1,075 T.J. Maxx, 941 Marshalls, 448 HomeGoods and 4 Sierra Trading Post stores at quarter's end. It had 227 Winners, 91 HomeSense and 27 Marshalls stores in Canada and 371 T.K. Maxx and 28 HomeSense stores in Europe.