Stock Alert: TJX Rises 7% As Co. Sees Strong Sales At Stores

(RTTNews) - Shares of The TJX Companies, Inc. (TJX), a leading off-price apparel and home fashions retailer are increasing more than 7% Thursday morning at $55.05.

While reporting first-quarter results today, the company's Chief Executive Officer and President Ernie Herrman commented, "Although it's still early and the retail environment remains uncertain, we have been encouraged with the very strong sales we have seen with our initial reopenings. We are currently seeing plentiful off-price buying opportunities, which, as we look to the remainder of the year, gives us confidence in having excellent brands and quality merchandise available to us".

TJX Companies has reopened more than 1,600 of its stores and expects to reopen all of its stores by the end of June.

For the first quarter, the company reported a net loss of $887.49 million or $0.74 per share compared with net income of $700.18 million or $0.57 per share in the same quarter a year ago.

Net sales nearly halved to $4.408 billion from $9.277 billion last year.

TJX has traded in the range of $32.72- $64.95 in the last 52-weeks.