TJX Raises Global Store Target to 7,500 as Second-Quarter Margins Climb
TJX reported second-quarter net sales of $15.2B, up 5%, with net income rising to $1.520B. Pre-tax profit margin climbed to 13.3% and diluted EPS improved to $1.36. Comparable sales grew 4%, store count and selling square footage increased about 3%, and the company returned $1.3B to shareholders through repurchases and dividends. It also updated its global store target to 7,500.