The TJX Companies, Inc. (TJX) said its first-quarter pretax profit margin and earnings per share, each on an adjusted basis, exceeded its plans even though sales were slightly below planned range. Adjusted pretax margin was 9.4%, excluding a 1.9 percentage point charge related to a write-down of the minority investment in Familia. The company's U.S. comparable store sales were flat, for the quarter. The largest division, Marmaxx, delivered a comp store sales increase of 3%, driven by an increase in customer traffic.
For the second quarter, TJX is planning U.S. comparable store sales to be down 1% to down 3%. Earnings per share is projected to be in the range of $0.65 to $0.69.
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