TJX Q1 profit climbs 8%

New York City As more budget-conscious shoppers take advantage of bargains at its discount retail outlets, TJX said its first-quarter profit rose 8% and sales improved.

The operator of stores such as T.J. Maxx, Marshalls and HomeGoods said earnings climbed to $209.2 million for the period ended May 2. Prior-year profit was $193.8 million, while sales grew 1% to $4.35 billion. Same-store sales increased 2%.