CORRECTED-Retailer TJX posts lower-than-expected quarterly sales
(Corrects name of chain in paragraph 1 to TJ Maxx from TJX Maxx)
May 20 (Reuters) - TJX Cos Inc, the owner of off-price chains TJ Maxx and Marshalls, reported lower-than-expected quarterly revenue as sales of discretionary items such as apparel and home goods were weaker than expected.
The company's net sales rose 4.9 percent to $6.49 billion in the first quarter ended May 3, but fell short of the analysts' average expectation of $6.60 billion, according to Thomson Reuters I/B/E/S.
Net income inched up to $454.3 million, or 64 cents per share, from $452.9 million, or 62 cents per share, a year earlier. (Reporting by Shailaja Sharma in Bangalore; Editing by Savio D'Souza)
- U.S. man sues soccer star Cristiano Ronaldo over CR7 trademark
- Moscow fights back after sanctions; battle rages near Ukraine crash site |
- Wall St. tumbles; S&P below 50-day moving average
- Netanyahu vows to complete Gaza tunnels destruction |
- Argentina defaults but investors see eventual deal possible |