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CORRECTED-Retailer TJX posts lower-than-expected quarterly sales
May 20, 2014 / 12:55 PM / 4 years ago

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)

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