Federated, TJX Post Strong Earnings

Federated Department Stores Inc., the largest U.S. department store operator, reported higher-than-expected third-quarter earnings, citing reductions in expenses. The Cincinnati-based owner of Bloomingdale’s and Macy’s said profit rose 53% to $105.1 million, or 48 cents a share, from $68.7 million, or 32 cents, a year earlier. Revenue rose 3.8%, to $3.75 billion from $3.61 billion. Same-store sales, or sales at stores open at least a year, rose 3.1%. Federated’s results topped the consensus Wall Street analyst forecast of 44 cents a share, according to First Call, which tracks analyst predictions. Meanwhile, Framingham, Mass.-based TJX Cos., which operates discount chains T.J. Maxx and Marshalls, said profit from continuing operations rose 27% to $103.3 million, or 59 cents a share, from $81.6 million, or 45 cents, a year ago. TJX had gains or charges in both quarters. Revenue rose 9.6%, to $1.89 billion from $1.72 billion. Same-store sales rose 7%.