HOMESENSE PARENT MISSES ESTIMATES AMID LOCKDOWNS

Discount store operator TJX Cos Inc missed estimates for holiday-quarter results on Wednesday, as coronavirus-induced lockdowns in europe and Canada shaved about US$1 billion off sales. TJX, which operates more than 1,200 stores under various banners such as Homesense and T.K. Maxx in Canada and europe, estimated that temporary store closures cut its fourth-quarter sales by Us$950 million to US$1.05 billion. TJX said about 690 stores were temporarily closed as of Wednesday and that it expected european stores to be shuttered for two-thirds of the current quarter. Net sales fell to US$10.94 billion in the quarter ended Jan. 30, from US$12.21 billion a year earlier. Analysts had expected sales of US$11.48 billion. Net income slumped to US$325.5 million from US$984.8 million a year earlier.