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TJX Cos. fiscal Q2 profit climbs 9.7% YOY

TJX Cos. Inc. said its normalized net income for the fiscal second quarter ended Aug. 2 amounted to 75 cents per share, compared with the S&P Capital IQ consensus estimate of 73 cents per share.

EPS increased 13.4% year over year from 66 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $529.7 million, an increase of 9.7% from $482.8 million in the year-earlier period.

The normalized profit margin increased to 7.7% from 7.5% in the year-earlier period.

Total revenue climbed 7.4% year over year to $6.92 billion from $6.44 billion, and total operating expenses climbed 7.0% from the prior-year period to $6.06 billion from $5.66 billion.

Reported net income increased 7.1% year over year to $514.8 million, or 73 cents per share, from $480.9 million, or 66 cents per share.