TJX tops 4Q profit and revenue expectations

MarketsAssociated Press

The TJX Cos. (TJX) on Wednesday reported fiscal fourth-quarter net income of $648.2 million.

The Framingham, Massachusetts-based company said it had profit of 93 cents per share.

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The results topped Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 90 cents per share.

The parent of T.J. Maxx, Marshalls and other stores posted revenue of $8.3 billion in the period, which also topped Street forecasts. Analysts expected $8.26 billion, according to Zacks.

For the year, the company reported profit of $2.22 billion, or $3.15 per share. Revenue was reported as $20.78 billion.

TJX expects full-year earnings to be $3.17 to $3.25 per share.

TJX shares have fallen 2 percent since the beginning of the year, while the Standard & Poor's 500 index has risen nearly 3 percent. The stock has increased 12 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap ) using data from Zacks Investment Research. Access a Zacks stock report on TJX at http://www.zacks.com/ap/TJX

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Keywords: TJX, Earnings Report