TJX Shares Advance With Earnings and Sales Beating Expectations

Shares of TJX Companies, Inc. surged higher after the company reported earnings and sales beat expectations last quarter.

The apparel and home goods company posted fourth-quarter net income of $677.9 million, or $1.03 per share which was up from $666.5 million, or 99 cents per share recorded one year ago. TJX reported sales reached $9.47 billion, above $8.96 billion last year and ahead of the $9.44 billion that analysts had forecast.

The Framingham-based company said same-store sales increased 3%, which topped economists’ expectation for a rise of 2.6%. TJX not only plans to increase the quarterly dividend by 20% to 31.25 cents per share for common stock declared in April 2017, payable in June 2017, but also announced a stock repurchase program of about $1.3 billion to $1.8 billion during the fiscal year ending Feb. 3, 2018.

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