May 16 (Reuters) - TJX Cos Inc, the owner of off-price chains T.J. Maxx and Marshalls, on Tuesday posted its slowest comparable-store sales growth in more than 10 quarters, adding to the gloom in the retail industry.
Shares of the company dipped nearly 5 percent to $73.3 before the bell.
TJX’s 1 percent rise in comparable store sales in the first quarter ended April 29 missed the 1.5 percent rise estimated by analysts polled by research firm Consensus Metrix.
The company reported a 3.2 percent rise in sales to $7.78 billion in the quarter, from a year earlier.
The Framingham, Massachusetts-based company’s net income rose to $536.3 million, or 82 cents per share, from $508.3 million, or 76 cents per share. (Reporting by Gayathree Ganesan in Bengaluru; Editing by Maju Samuel)