November 20, 2018 / 1:27 PM / a month ago

TJX tops same-store sales estimates

Nov 20 (Reuters) - Off-price apparel retailer TJX Cos Inc reported better-than-expected quarterly same-store sales on Tuesday, as heavy discounting drove more shoppers to its T.J. Maxx and Marshalls stores.

TJX said same-store sales rose 7 percent in the third quarter ended Nov. 3, better than analysts' average estimate of a 4.1 percent increase, according to IBES data from Refinitiv.

Its net sales climbed to $9.83 billion from $8.76 billion.

Third-quarter net income rose to $762.3 million or 61 cents per share, from $641.4 million or 50 cents per share a year earlier. (Reporting by Soundarya J in Bengaluru)

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