Feb 27 TJX Cos Inc, the owner of the
low-price T.J. Maxx and Marshalls chains, on Wednesday reported
higher fourth-quarter results, but forecast a slower pace of
sales growth for the new fiscal year and gave a profit forecast
below Wall Street's projections.
TJX, which also operates Canada's Winners chain, expects
sales at stores open at least a year, or same-store sales, to
rise 1 percent to 2 percent this fiscal year, compared with a 7
percent jump for the year ended Feb. 2.
TJX forecast a full-year profit of $2.66 per share to $2.78
per share, compared with Wall Street expectations of $2.84 per
share, according to Thomson Reuters I/B/E/S.
The retailer reported net income of $604.8 million, or 82
cents per share for the 14 weeks ended Feb. 2, compared with
$475.3 million or 62 cents per share for the 13 weeks ended Jan.
As previously reported, TJX's same-store sales rose 4
percent during the holiday season.
TJX said it plans to raise its quarterly dividend 26 percent
to 14.5 cents per share.