TJX’s net income more than triples

From Times Staff and Wire Reports

TJX Cos., the owner of the T.J. Maxx and Marshalls chains, said second-quarter profit more than tripled as cash-strapped consumers bought reduced-price clothes and shoes.

Net income climbed to $200.2 million, or 45 cents a share, as revenue increased 7.1% to $4.62 billion.

Profit in the year-earlier period was $59 million, or 13 cents.