TJX’s Net Income Falls 4.1% on Markdowns
TJX Cos., owner of T.J. Maxx and Marshalls stores, said second-quarter net income fell 4.1% as the company took bigger markdowns to clear inventories of men’s clothing and home furnishings.
Net income fell to $118.2 million from $123.3 million a year earlier, the Framingham, Mass.-based company said. Net income per share was unchanged at 24 cents. Sales rose 12% to $3.4 billion, boosted by higher sales of women’s fashions, jewelry and accessories.
Shares of TJX fell 35 cents to $21.70 on the NYSE.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
