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TJX Cos. profit holds relatively steady YOY in fiscal Q1

TJX Cos. Inc. said its normalized net income for the fiscal first quarter ended May 3 came to 64 cents per share, compared with the S&P Capital IQ consensus estimate of 67 cents per share.

EPS climbed year over year from 62 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $456.6 million, compared with $457.4 million in the year-earlier period.

The normalized profit margin fell to 7.0% from 7.4% in the year-earlier period.

Total revenue rose year over year to $6.49 billion from $6.19 billion, and total operating expenses grew 5.5% on an annual basis to $5.75 billion from $5.45 billion.

Reported net income totaled $456.3 million, or 64 cents per share, compared to $454.2 million, or 62 cents per share, in the year-earlier period.