Off-price apparel and home fashions retailer The TJX Companies has reported strong results for the third quarter, which an analyst attributed to store expansion and productivity gains.

The company’s net sales for the quarter ended November 2 rose 6 per cent to $14.1 billion, with comparable store sales up 3 per cent. Its net income also jumped 11 per cent to  $1.3 billion.

Management said the sales uplift was at the high-end of its guidance, while profit margin and earnings exceeded expectations.

GlobalData MD Neil Saunders said the growth was due to a mix of store expansion and productivity gains from existing stores. He added that it also reflects the company’s consistent execution of its plans in a changeable environment.

At TJMaxx and Marshalls in the US, sales grew 4.1 per cent while comparable sales rose 2 per cent. This is a modestly weaker growth than last quarter, which reflects a market that was more widely promotional, according to the analyst.

At HomeGoods, sales grew robust 6.7 per cent and comparables were up 3 per cent. Saunders described this as a standout performance amid another quarter of decline for the wider homewares market.

The company’s international business saw sales increase 10.8 per cent, with comparable sales up 7 per cent. Execution remains strong across many markets, and consumers’ focus on value as the holiday season approaches also helped with store traffic and sales, Saunders elaborated.

For the first nine months, TJX’s net sales rose 6 per cent and comparable sales grew 3 per cent.

The company continues to expect consolidated comparable store sales to be up 3 per cent for the full year.