FRAMINGHAM, Massachusetts — The TJX Cos., the parent of T.J. Maxx, Marshalls and other stores, on Wednesday reported fiscal fourth-quarter net income that beat Wall Street expectations.
The Framingham, Massachusetts-based company said it had profit of $648.2 million, or 93 cents per share, in the quarter that ended on Jan. 31. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 90 cents per share.
TJX 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 that ended in January, the company reported profit of $2.22 billion, or $3.15 per share, on revenue of $29.08 billion.
TJX expects earnings for the year ending in January 2016 to be $3.17 to $3.25 per share. Analysts had predicted $3.50 per share, according to FactSet.
TJX said it expects a hit to this year's earnings from a stronger dollar as well as wage increases for employees and pension costs.
The company's shares rose 71 cents, or 1.1 percent, to $67.87 in morning trading. It is up 12 percent in the last 12 months.
Elements of this story were 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
Keywords: TJX, Earnings Report
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