NEW YORK (TheStreet) -- TJX (TJX), the parent company of the popular discount apparel retailers T.J. Maxx, Marshalls and home furnishings specialty store, HomeGoods, once again surpassed Wall Street expectations for the third quarter.
TJX reported earnings for the Nov. 2-ending quarter of $623 million, or 86 cents a share, slightly higher than the upped guidance the discount retailer shared in October.
Excluding a previously announced 11-cent tax benefit, adjusted diluted earnings per share came in at 75 cents, up 21% over last year's quarter and beating Wall Street expectations by a penny.
TJX's net sales rose 9% to $7 billion, also surpassing Wall Street expectations of $6.91 billion in quarterly revenue.
Total comparable store sales, which includes Marmaxx (the combination of T.J. Maxx and Marshall's) as well as HomeGoods, rose 5%, surpassing the October guidance of 4% comp growth, however below the company's second quarter comp growth of 7%.
HomeGoods had particularly strong comp growth of 10%.
Shares were trading 0.50% higher before the markets opened to $62.80.
The Framingham, Mass.-based company is benefitting from strong sales as consumers flock to its stores for bargain hunting as well as the popular category of home furnishings. TJX is positioned well for the holiday season.
"We are very pleased that our strong momentum continued in the third quarter. Our 21% increase in adjusted earnings per share and 5% consolidated comparable store sales growth were both well above our original plan and achieved over strong comparisons last year," CEO Carol Meyrowitz said in the earnings statement. "We believe these robust results demonstrate, once again, our ability to succeed in all types of economic and retail environments."