TJX Triples Profits

TJX, the discount fashion retailer, said Tuesday that its second-quarter profit more than tripled from a year ago when it digested a charge for a widely publicized security breach.

The company, which operates the T. J. Maxx and Marshalls stores, also raised its profit outlook as it attracts new shoppers looking for cheaper alternatives.

Carol Meyrowitz, president and chief executive, told investors in a conference call that she was confident that TJX could retain its new customers even when the economy recovered.

“We see enormous growth potential in the future and have solid strategies in place to support our goals,” she said. As part of its expansion plans, TJX is testing a store concept in Canada called StyleSense, which offers family footwear and accessories.


Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.