UPDATE 2-TJX to open more stores, wade into e-commerce this year
* Sees fiscal year same-store sales up 1-2 pct
* Sees FY EPS $2.66-$2.78 vs view $2.84
* To start testing e-commerce this year
* Shares up 1.4 percent
By Phil Wahba
Feb 27 (Reuters) - TJX Cos Inc, the owner of the low-price T.J. Maxx and Marshalls chains, on Wednesday reported higher fourth-quarter results and said it plans to expand its chains abroad and domestically this year and finally introduce e-commerce.
TJX, whose websites do not currently let customers shop, intends to begin testing e-commerce toward the end of the year. That, along with store expansion, puts TJX "well on the road to being a $40 billion-plus company," said Chief Executive Carol Meyrowitz.
The company also announced it was raising its quarterly dividend 26 percent to 14.5 cents, and shares were up 1.4 percent to $44.29 in late morning trading.
But TJX's profit forecast for the new fiscal year fell below Wall Street projections, and the retailer forecast same-store sales growth of 1 percent to 2 percent, far more modest than last year's 7 percent clip. Continued...