UPDATE 1-TJ Maxx parent sees holiday sales flat to up 2 pct

Tue Nov 13, 2012 8:59am EST

Nov 13 (Reuters) - TJX Cos Inc, owner of the Marshalls and T.J. Maxx chains, reported a higher quarterly profit on Tuesday and said it expects same-store sales during the holiday quarter to be flat to up 2 percent.

TJX, which sells designer clothes and home goods at lower prices than department stores, raised its full-year earnings forecast by 1 cent, to a range of $2.45 to $2.48 per share.

It said it estimates a profit of 72 cents to 75 cents per share for the current quarter, which includes the holiday period. That is below the 76 cents Wall Street analysts were expecting.

The company, which also operates the T.K. Maxx chain in Europe, reported net income of $461.5 million, or 62 cents per share, for the fiscal third quarter ended Oct. 27, up from $406.5 million, or 53 cents per share, a year earlier.

Net sales rose 10.7 percent to $6.41 billion, while same-store sales, or sales at stores open at least a year, rose 7 percent.

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