Business

TJX's second-quarter sales beat estimates

(Reuters) – Off-price retailer TJX Cos Inc (TJX.N) on Wednesday beat market estimates for quarterly net sales, helped by strong demand for home-improvement products from consumers stuck indoors during the coronavirus lockdown.

Net sales came in at $6.67 billion in the second quarter ended Aug. 1, compared with $9.78 billion last year. However, analysts on average were projecting net sales of $6.57 billion, according to IBES data from Refinitiv.

TJX reported a net loss of $214.2 million, of 18 cents per share, from a profit of about $759 million, or 62 cents per share last year.

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