TJX Posts 10 Percent Increase In Same-store Sales

FRAMINGHAM, Mass. (AP) — Discount retailer TJX Cos. said Thursday that sales in stores open at least one year rose 10 percent in October on strong demand at T.J. Maxx and Marshalls stores.

Analysts polled by Thomson Reuters expected an increase of 10.1 percent.

TJX said sales at its T.J. Maxx and Marshalls stores rose a combined 12 percent, driven by strong customer traffic, which is said bodes well for the upcoming holiday season.

So far this year, TJX said its sales at stores open at least a year are up 5 percent.

Citing the October sales results, TJX said it now expects its third quarter fiscal 2010 earnings per share from continuing operations to be at or slightly above its previously projected range of 77 cents to 79 cents per share.

Analysts, on average, expect a profit for the period of 79 cents per share.