TJX'S NET DECLINES; SHARE EARNINGS UP.
HFN: The Weekly Newspaper for the Home Furnishing Network, August, 2000 by Zaczkiewicz, Arthur
FRAMINGHAM, Mass.-Home goods performed better than other segments during the second quarter at TJX Cos., which was plagued by poor weather in stores in the Northeast and Midwest.
Management at the retailer, which operates stores under the T.J. Maxx, Marshalls, HomeGoods, T.K. Maxx and A.J. Wright flags, last week said quarterly results fell short of expectations.
Although sales increased 7.62 percent during the quarter ended July 29 to $2.26 billion from $2.1 billion last year, net income dropped 1.62 percent to $114 million from $115.9 million.
However, the company's earnings per share climbed 8.3 percent to 39 cents from 36 cents in 1999, beating Wall Street analysts' earnings estimates by a penny. The increase in earnings per share was due...
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