By  on May 20, 2009

The recession is funneling both customers and profits to The TJX Cos., which boosted its bottom line by 7.9 percent in the first quarter and is seeking to solidify its position in the off-price category.

Quarterly earnings for the Framingham, Mass.-based parent of TJ Maxx and Marshalls rose to $209.2 million, or 49 cents a diluted share, from $193.8 million, or 43 cents, and were in line with analyst estimates. Sales for the three months ended May 2 inched up 1.2 percent to $4.35 billion from $4.3 billion and grew 2 percent on a same-store basis.

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