NEW YORK (
) -- Off-price retailer
is continuing to outshine its competitors, more than doubling its fourth-quarter profit as same-store sales see double-digit gains.
During the quarter, TJX earned $395 million, or 94 cents a share, compared with $250.7 million, or 58 cents, in the year-ago period. Analysts expected the retailer to earn 91 cents a share.
Sales jumped 10% to $5.94 billion from $5.38 billion last year, while same-store sales grew 12%.
Looking ahead, TJX sees fiscal 2011 earnings in the range of $3.06 to $3.20 a share, which is based on comparable sales growth between 1% and 2%. In the first quarter the company is calling for a profit of 60 cents to 65 cents a share. Both estimates are poised to top Wall Street's forecast.
-- Reported by Jeanine Poggi in New York.
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