Company News

TJX reports flat same-store sales in hurricane-hit Q3

Nov 14 (Reuters) - TJX Cos Inc disappointed with flat third-quarter same-store sales, blaming the impact of hurricanes in the United States and unseasonably warmer weather that dampened sales of cold weather apparel at its Marmaxx stores.

Shoppers seeking the bargain deals which are the company’s hallmark drove sales higher by 6 percent to $8.8 billion in the third quarter.

TJX’s comparable store sales, however, were flat in the third quarter, missing the 2.2 percent rise expected by analysts, according to Thomson Reuters I/B/E/S .

The Framingham, Massachusetts-based company’s net income rose to $641.44 million, or $1 per share in the third quarter ended Oct. 28, from $550 million, or 83 cents per share, a year earlier. (Reporting by Gayathree Ganesan in Bengaluru;Editing by Arun Koyyur and Patrick Graham)