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TJX Triples Profits

TJX, the discount fashion retailer, said Tuesday that its second-quarter profit more than tripled from a year ago when it digested a charge for a widely publicized security breach.

The company, which operates the T. J. Maxx and Marshalls stores, also raised its profit outlook as it attracts new shoppers looking for cheaper alternatives.

Carol Meyrowitz, president and chief executive, told investors in a conference call that she was confident that TJX could retain its new customers even when the economy recovered.

“We see enormous growth potential in the future and have solid strategies in place to support our goals,” she said. As part of its expansion plans, TJX is testing a store concept in Canada called StyleSense, which offers family footwear and accessories.


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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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