Low-price U. S. retailer TJX Cos Inc. reported a higher-than-expected increase of 58 per cent in its quarterly profit on back of acceleration in the stores sales.

For the quarter ended on January 30, 2010 the company reported a profit of $395 million against $250.7 million for the same period in the previous financial year. Revenue of the company recorded an increase of 10 per cent during the quarter with help of a quick turnover of the inventory along with steep discount sales.

During the year the company generated enormous cash and carefully used the same as an investment for further growth and distribution among the shareholders.

According to the Chief Executive of the company Carol Meyrowitz, "Regardless of whether the economy is weak or strong, value is not going out of fashion. If some of our newly-acquired customers go back to shopping at their favorite high-end department stores that does not mean they'll stop shopping with us."

For the first quarter of 2010, the company expects earnings per share in the range of 60 cents to 65 cents and a rise of eight per cent to nine per cent in the sales.