The discounter, which runs chains including TJ Maxx and Marshalls, said revenue hit $15.1 billion. Analysts on average expected about $14.9 billion. Its comparable sales also topped estimates.
Retailers have warned for months that tariffs will increase prices. That would add to several years of high inflation and further stretch consumers. But it’s also giving companies such as TJX an edge. Its chains sell designer and branded goods at discounts after procuring inventory that hasn’t sold at full-price stores.
Shares of TJX rose about 4 percent in premarket trading on Wednesday. The stock had gained about 21 percent this year, topping a 13 percent gain for the S&P 500 Index.
By Lily Meier
Tariffs Are Forcing Brands to Cut Back on Black Friday Deals
Companies such as Coach, Nike, Ralph Lauren and Levi’s are seeking to reduce or phase out promotions this year, even as consumers are increasingly seeking out deals.
