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TJX Falls Most in Five Years After Profit Lags Estimates

TJX Cos., owner of the T.J. Maxx discount chain, fell the most in more than five years after posting first-quarter profit and sales that trailed analysts’ estimates.

The shares tumbled 7.6 percent to $53.95 at the close in New York for the biggest one-day drop since December 2008. TJX has slid 15 percent this year, compared with a 1.3 percent gain for the Standard & Poor’s 500 Index.