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Net sales at The TJX Companies rises 7% in Q3FY17
17
Nov '16
Net sales at off price retailer of apparel and home fashions, The TJX Companies rose 7 per cent over the same quarter of earlier fiscal to $8.3 billion in the three months ended October 29, 2016. Consolidated comparable store sales grew 5 per cent in the third quarter of fiscal 2017, as against a same percentage increase in the prior fiscal's third quarter.

Net income for the reporting quarter totalled $550 million or $0.83 diluted earnings per share, down from $0.86 diluted earnings per share in the third quarter of fiscal 2016-11-17

According to the retailer, excluding the impact of a debt extinguishment charge and pension settlement charge, which combined reduced earnings per share by $0.08, adjusted diluted earnings per share were $0.91.

The movement in foreign currency exchange rates had a two percentage point negative impact on consolidated net sales growth in the third quarter of fiscal 2017 and a $0.01 negative impact on earnings per share, compared with a $.01 negative impact in the previous fiscal's comparable period. (AR)

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