TJX Joins Other Low Cost Retailers in Posting Strong Sales

Discount retailer The TJX Companies, Inc. (NYSE:TJX) reported an excellent result for its second quarter. A key metric, comparable store sales, climbed 7 percent as consumers hunted for deals in the context of a slow economy and rising prices of gas. Net income was reported at $421.09 million ($0.56 a share), compared to $348.34 million ($0.45 a share) in the period a year ago. The earnings beat the analysts’ estimates of $0.55 per share. Net revenues grew 9 percent to $5.95 billion from $5.47 billion in the same period last year. Revenues missed street expectations of $6 billion. Carol Meyrowitz,…