Three retailers report solid third-quarter earnings

November 18, 2009

CHICAGO - Deal-craving shoppers helped a trio of prominent U.S. retailers report Tuesday that their third quarter managed to improve this year. At Target, in-store revenue rose along with foot traffic during the three-month period, but shoppers were still buying fewer items during each trip. But shoppers at both stores and discount retailer TJX Cos. surprised analysts in seeming more willing to indulge. Of the retailers that reported Tuesday, TJMaxx's parent company, TJX, fared best, with quarterly profit up 32 percent. It also said early holiday sales are strong. Target earned $436 million, or 58 cents per share, during the three months that ended in late October. Its revenue rose 1.1 percent to $15.28 billion. Saks managed to post a surprise profit for the first time in 18 months. Saks earned $1.9 million, or 1 cent per share, for the period.

- Associated Press

Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.