By  on May 20, 2014

Shares of The TJX Cos. Inc. dropped 7.6 percent after the company posted first-quarter profits that were below Wall Street’s expectations and estimated full-year earnings per share 2 cents below analysts’ estimate.

The company said for the three months ended May 3, net income inched up 0.3 percent to $454.3 million, or 64 cents a diluted share, from $452.9 million, or 62 cents, in the year-ago quarter. Net sales rose 4.9 percent to $6.49 billion from $6.19 billion. The company said consolidated comparable-store sales rose 1 percent in the quarter. Analysts were expecting EPS of 67 cents on net sales of $6.6 billion.

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