TJX hits an all-time high as reason we own off-price retailer played out in the quarter

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The reflection of shoppers are seen in a window at a TJ Maxx store in Peoria, Illinois.

Daniel Acker | Bloomberg | Getty Images

Club holding TJX Companies (TJX) reported stronger-than-expected fiscal third-quarter 2023 earnings and U.S. sales before the opening bell Wednesday, boosting shares of the off-price retailer by nearly 4% to an all-time high. The inventory glut at full-price chains played out as we had expected, proving to be a boon to TJX, whose brands include T.J. Maxx, Marshalls and HomeGoods.

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