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Wal-Mart and TJX report solid 1st-quarter profit gains



By ANNE D'INNOCENZIO, AP
13 May 2008 @ 04:37 pm EST


Earns Wal Mart
In this April 29, 2008 file photo, the outside of a new Wal-Mart supercenter is seen in Maumelle, Ark. Wal-Mart Stores Inc., the world's largest retailer, said Tuesday May 13, 2008, its profit rose 6.9 percent in its first quarter on higher sales as lower prices helped boost its results, topping Wall Street's expectations. (AP Photo/Mike Wintroath, file)
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Quotes
WMT 53.01 -2.87
TJX 20.29 -2.53
BAC 12.85 -3.4

SYMBOL LOOKUP

A $12 million charge from a massive data breach hurt TJX's profit a year ago. A $12 million benefit due to several tax-related adjustments helped this year's first-quarter profit.

Not counting that benefit, TJX's profit in the latest period was 41 cents per share, matching the consensus estimate of analysts surveyed by Thomson Financial.

TJX's revenue rose 6 percent in the latest period to $4.36 billion, just shy of analysts' forecast of $4.39 billion. Same-store sales rose 3 percent.

___

AP Writers Chuck Bartels in Little Rock, Ark. and Mark Jewell in Boston contributed to this report.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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