tjx

The closing of A.J. Wright stores and reopening many as TJMaxx, Marshalls or HomeGoods stores pulled TJX Cos.' first-quarter net income down 20 percent, but customer traffic improved at the company's remaining chains as shoppers still sought bargains.

Discount retailer TJX says it has reached a settlement with multiple states related to a massive data theft that occurred at the parent company of retailers T.J.

Maxx and Marshall's a few years ago.

Saks Inc. said Tuesday that its cost cutting left it with a smaller loss than expected in the first quarter, but demand remains weak for its luxury offerings, while discounter TJX Cos. earned 8 percent more than a year earlier as frugal shoppers took advantage of bargains.

TJX says its fiscal first-quarter profit rose 8 percent as sales improved on budget-conscious shoppers taking advantage of bargains at its discount retail outlets.