Press release from Business Wire
The TJX Companies, Inc. Reports May 2010 Sales
Thursday, June 03, 2010
The TJX Companies, Inc. Reports May 2010 Sales08:28 EDT Thursday, June 03, 2010 FRAMINGHAM, Mass. (Business Wire) -- The TJX Companies, Inc. (NYSE: TJX) today reported May 2010 sales results. Sales for the four-week period ended May 29, 2010, were $1.6 billion, up 8% over the $1.5 billion achieved during the four-week period ended May 30, 2009. For the 17-week period ended May 29, 2010, sales reached $6.6 billion, a 13% increase over the $5.8 billion achieved in the same period last year. Consolidated comparable store sales for the four-week period ended May 29, 2010, increased 4% over the same period last year. For the 17-week, year-to-date period, consolidated comparable store sales increased 8% 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 May was above our expectations and achieved on top of a very solid 5% increase last year. We saw sales pick up substantially in the second half of the month as the weather turned warmer, which helped us achieve our above-plan performance. At The Marmaxx Group, where comp sales increased by 3% across the chain, the Northeast was our strongest region which we believe speaks to the correlation of the warmer weather and apparel sales. We are pleased that customer transactions continued to increase significantly, which indicates to us that consumers will continue to gravitate toward our compelling values regardless of the economic environment. As we enter the summer selling season, we continue to run the business with extremely lean inventories and see excellent buying opportunities of great brands in the marketplace.” The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. The Company operates 902 T.J. Maxx, 819 Marshalls, 327 HomeGoods, and 154 A.J. Wright stores in the United States. In Canada, the Company operates 208 Winners, 79 HomeSense and 3 STYLESENSE stores, and in Europe, 274 T.K. Maxx and 16 HomeSense stores. TJX's press releases and financial information are also available on the Internet at www.tjx.com. May and June 2010 Sales Recorded Calls A recorded message with more detailed information regarding TJX's May 2010 sales results, operations and business trends is available via the Internet at www.tjx.com, or by calling (703) 736-7248 through Thursday, June 10, 2010. The Company expects to release its June 2010 sales results on Thursday, July 8, 2010, at approximately 8:15 a.m. ET. Concurrent with that press release, a recorded message with more detailed information regarding TJX's June sales results, operations and business trends will be available via the Internet at www.tjx.com, or by calling (703) 736-7248 through Thursday, July 15, 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.