RTTNews | Nov 17, 2021 09:46AM EST

09:46 Wednesday, November 17, 2021 (RTTNews.com) - Shares of TJX Companies, Inc. (TJX) jumped over 10% on Wednesday morning after the parent company of department store chain TJ Maxx reported third-quarter profit and revenues that trumped Wall Street expectations.

TJX is currently trading at $76.61, up $7.11 or 10.23%, on the NYSE.

Third-quarter net income was $1.02 billion or $0.84 per share, up from $866.7 million or $0.71 cents per share last year. Sales for the quarter were $12.53 billion, up from $10.12 billion last year.

Analysts polled by Thomson Reuters estimated earnings of $0.81 per share on revenues of $12.27 billion for the quarter. Analysts' estimates typically exclude one-time items.

Commenting on the results, CEO and President Ernie Herrman said, "I am extremely pleased with the continued strength of our business, with our overall open-only comp store sales up a very strong 14% over Fiscal 2020, and earnings per share of $.84, well above our plan. We saw robust trends throughout the quarter, with comp sales exiting the quarter as strong as the beginning of the quarter."

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