TJX Q3 profit surges 32%; boasts outlook

Framingham, Mass. TJX said Tuesday that its third-quarter profit rose 32% as shoppers looked for bargains at the discount retailer's chains. The company boosted its outlook for the fourth quarter and full year.

The operator T.J. Maxx, Marshalls and HomeGoods reported a profit of $347.8 million in the quarter ended Oct. 31, compared with $235.8 million in the year-ago period.

Revenues rose 10% to $5.24 billion from $4.76 billion a year earlier. Analysts expected revenue of $5.25 billion. Same-store sales rose 7%.

"We are pleased to see the strong momentum in our business continue despite the challenging economic environment," Carol Meyrowitz, president and chief executive, said in a statement. Meyrowitz said all TJX's businesses did well, both domestically and internationally.