TJX Cos. /zigman2/quotes/203136811/composite TJX +0.75% shares rose 3.6% in Wednesday premarket trading after the off-price retailer reported fiscal third-quarter earnings and sales that beat expectations. Net income totaled $1.02 billion, or 84 cents per share, up from $866.7 million, or 71 cents per share, last year. Sales of $12.53 billion were up from $10.12 billion in 2020. The FactSet consensus was for EPS of 81 cents and sales of $12.27 billion. Overall open-only comp store sales rose 14% for the period. Open-only comp store sales measures sales growth or decline at stores open for the same days in fiscal 2020, before COVID. TJX's portfolio includes TJ Maxx, HomeGoods and Marshalls. For the start of the fourth quarter, TJX says open-only comp store sales are up mid-teens compared to fiscal 2020. Inventory as of Oct. 30 was at $6.6 billion, up from $6.3 billion in fiscal 2020. "We are in an excellent inventory position, with most of the product needed for the holiday season either on hand or scheduled to arrive at our stores and online in time for the holidays," said Chief Executive Ernie Herrman in a statement. During the period, some of the company's stores in Australia were closed due to the pandemic resulting in about $30 million to $40 million in estimated lost sales. Currently, there are no stores closed due to COVID-19. TJX stock is up 1.8% for the year to date while the S&P 500 index /zigman2/quotes/210599714/realtime SPX -0.54% has rallied 25.2% for the period.