UPDATE: TJX Posts Rise In FQ4 Profit, Lifts Dividend

TJX Companies Inc TJX posted a rise in its fiscal fourth-quarter profit. TJX's quarterly profit surged to $475.3 million, or $0.62 per share, versus $334.4 million, or $0.42 per share, in the year-ago period. Its sales surged 6% to $6.71 billion. Its comparable sales climbed 7%. TJX expects profit of $0.45 to $0.47 per share for the first quarter and $2.21 to $2.31 per share this fiscal year. However, analysts were expecting a profit of $0.62 per share in the fourth quarter, $0.46 per share in the first quarter and $2.27 for the new fiscal year. TJX also announced its plans to repurchase up to $1.3 billion of stock this fiscal year. It is also lifting its quarterly dividend to 11.5 cents per share. TJX shares closed at $35.22 yesterday.