Reuters

(Reuters)

Retailer TJX's 1Q Sales Rise About 10%

Industries Reuters

TJX, the owner of off-price chain T.J. Maxx, reported a 9.9 percent rise in quarterly sales as value-conscious shoppers flocked to its stores for off-priced clothes and accessories.

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The company's net income rose to $508.3 million, or 76 cents per share, in the first quarter ended April 30 from $474.6 million, or 69 cents per share, a year earlier.

The company, which also owns the Marshalls chain, said net sales rose to $7.54 billion from $6.87 billion, while comparable sales rose 7 percent.

(Reporting by Subrat Patnaik in Bengaluru; Editing by Sriraj Kalluvila)