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TJX Cos. fiscal Q3 profit climbs 9.1% YOY

TJX Cos. Inc. said its normalized net income for the fiscal third quarter ended Nov. 1 amounted to 86 cents per share, compared with the S&P Capital IQ consensus estimate of 85 cents per share.

EPS rose 12.7% year over year from 76 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $599.4 million, an increase of 9.1% from $549.6 million in the year-earlier period.

The normalized profit margin rose to 8.1% from 7.9% in the year-earlier period.

Total revenue grew 5.5% on an annual basis to $7.37 billion from $6.98 billion, and total operating expenses rose 5.0% from the prior-year period to $6.40 billion from $6.09 billion.

Reported net income declined year over year to $595.9 million, or 85 cents per share, from $622.7 million, or 86 cents per share.