Press release from Business Wire
The TJX Companies, Inc. Reports April 2010 Sales; Expects First Quarter EPS Near High End of Estimated Range
Thursday, May 06, 2010
The TJX Companies, Inc. Reports April 2010 Sales; Expects First Quarter EPS Near High End of Estimated Range08:29 EDT Thursday, May 06, 2010 FRAMINGHAM, Mass. (Business Wire) -- The TJX Companies, Inc. (NYSE: TJX) today reported April 2010 sales results. Sales for the four-week period ended May 1, 2010, were $1.6 billion, up 10% over the $1.4 billion achieved during the four-week period ended May 2, 2009. For the 13-week period ended May 1, 2010, sales reached $5.0 billion, a 15% increase over the $4.4 billion achieved in the same period last year. Consolidated comparable store sales for the four-week period ended May 1, 2010, increased 4% over the same period last year. For the 13-week, year-to-date period, consolidated comparable store sales increased 9% over the same period last year. Carol Meyrowitz, President and Chief Executive Officer of The TJX Companies, Inc., stated, “Our 4% consolidated comparable store sales increase in April was at the high end of our expectations. Looking at April and March combined, which neutralizes the impact of pre-Easter selling shifting into March this year from April last year, comparable store sales increased by a very strong 9%. Customer transactions increased significantly during this period as our strong momentum continues, although unseasonably cool and wet weather in several U.S. regions, particularly New England, did dampen demand for spring apparel in the second half of April. Notably, sales trends picked up in the beginning of May as the weather warmed. With strong sales and margins, we now expect first quarter earnings per share from continuing operations to be near the high end of our recently raised guidance of $.76 - $.79, which represents a 55% - 61% increase over last year. We remain extremely well positioned as value continues to resonate with consumers and we pursue our many opportunities for growth.” The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. The Company operates 896 T.J. Maxx, 817 Marshalls, 325 HomeGoods, and 152 A.J. Wright stores in the United States. In Canada, the Company operates 208 Winners, 79 HomeSense and 3 STYLESENSE stores, and in Europe, 272 T.K. Maxx and 14 HomeSense stores. TJX's press releases and financial information are also available on the Internet at www.tjx.com. April and May 2010 Sales Recorded Calls A recorded message with more detailed information regarding TJX's April 2010 sales results, operations and business trends is available via the Internet at www.tjx.com, or by calling (703) 736-7248 through Thursday, May 13, 2010. The Company expects to release its May 2010 sales results on Thursday, June 3, 2010, at approximately 8:15 a.m. ET. Concurrent with that press release, a recorded message with more detailed information regarding TJX's May sales results, operations and business trends will be available via the Internet at www.tjx.com, or by calling (703) 736-7248 through Thursday, June 10, 2010. First Quarter Fiscal 2011 Conference Call Additionally, the Company expects to release its first quarter earnings on Tuesday, May 18, 2010, before 9:30 a.m. ET. At 11:00 a.m. ET that day, Carol Meyrowitz, TJX's President and Chief Executive Officer, will hold a conference call with stock analysts to discuss the Company's first quarter Fiscal 2011 results, operations and business trends. A real-time webcast of the call will be available at www.tjx.com. A replay of the call will also be available at www.tjx.com or by dialing (866) 367-5577 through Tuesday, May 25, 2010. Important Information at Website Archived versions of the Company's recorded messages and conference calls are available at www.tjx.com after they are no longer available by telephone. The Company routinely posts information that may be important to investors in the Investor Information section at www.tjx.com. The Company encourages investors to consult that section of its website regularly. Forward-looking Statement SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: Various statements made in this release are forward-looking and involve a number of risks and uncertainties. All statements that address activities, events or developments that we intend, expect or believe may occur in the future are forward-looking statements. The following are some of the factors that could cause actual results to differ materially from the forward-looking statements: global economies and credit and financial markets; foreign currency exchange rates; buying and inventory management; customer trends and preferences; market, geographic and category expansion; quarterly operating results; marketing, advertising and promotional programs; data security; seasonal influences; large size and scale; unseasonable weather; serious disruptions and catastrophic events; competition; personnel recruitment and retention; acquisitions and divestitures; information systems and technology; cash flows; consumer spending; merchandise quality and safety; merchandise importing; international operations; oil prices; compliance with laws, regulations and orders; changes in laws and regulations; outcomes of litigation and proceedings; real estate leasing; market expectations; tax matters and other factors that may be described in our filings with the Securities and Exchange Commission. We do not undertake to publicly update or revise our forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied in such statements will not be realized.