May 22, 2018 / 12:39 PM / 4 months ago

TJX same-store sales top estimates

May 22 (Reuters) - Off-price apparel retailer TJX Cos Inc reported better-than-expected quarterly comparable-store sales on Tuesday, as deep discounts helped drive more customers into its stores.

The company’s net income rose to $716.4 million, or $1.13 per share, in the first quarter ended May 5, from $536.3 million, or 82 cents per share, a year earlier.

TJX reported a 3 percent rise in comparable store sales, compared with the 2.5 percent increase analysts had expected, according to Thomson Reuters I/B/E/S.

The Framingham, Massachusetts-based company’s net sales rose to $8.69 billion from $7.78 billion. (Reporting by Uday Sampath in Bengaluru; Editing by Maju Samuel)

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