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TJX Q1 earnings up 41%, boosts FY outlook
FRAMINGHAM, Mass. — The TJX Companies reported that net sales for the first quarter of fiscal 2013 increased 11% to $5.8 billion and consolidated comparable-store sales increased 8%. Net income for the first quarter was $419 million and diluted earnings per share were 55 cents.
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J.C. Penney loses $163 million in Q1; same-store sales slide 18.9%
Dallas -- J. C. Penney Co. on Tuesday reported a loss of $163 million, or 75 cents a share, for its fiscal quarter ended April 28, 2012, compared with a year-earlier profit of $64 million.
Excluding markdowns to reduce inventory levels, restructuring costs and pension-plan expenses, the loss was $55 million or $0.25 per share, compared with a year-earlier profit of 36 cents.