Press release from Business Wire
The TJX Companies, Inc. Reports June 2010 Sales; Raises Second Quarter and Full Year Fiscal 2011 Outlook
Thursday, July 08, 2010
The TJX Companies, Inc. Reports June 2010 Sales; Raises Second Quarter and Full Year Fiscal 2011 Outlook08:41 EDT Thursday, July 08, 2010 FRAMINGHAM, Mass. (Business Wire) -- The TJX Companies, Inc. (NYSE: TJX) today reported June 2010 sales results. Sales for the five-week period ended July 3, 2010, were $2.0 billion, up 7% over the $1.8 billion achieved during the five-week period ended July 4, 2009. For the 22-week period ended July 3, 2010, sales reached $8.6 billion, a 12% increase over the $7.7 billion achieved in the same period last year. Consolidated comparable store sales for the five-week period ended July 3, 2010, increased 3% over last year. For the 22-week, year-to-date period, consolidated comparable store sales increased 7% over last year. Carol Meyrowitz, President and Chief Executive Officer of The TJX Companies, Inc., stated, “Consolidated comparable store sales were solidly within our estimated range and The Marmaxx Group reported a comp sales increase at the high end of our forecast. It is important to note that these comp sales increases were achieved on top of our strong increases last year when many other retailers had sharp comp sales declines. Further, business continued to be driven by increases in customer traffic which led to the sustained strength that our June sales represent. With strong sales and margins, we are raising our previous outlook for this year's second quarter earnings per share over exceptionally strong second quarter results last year and for the several years prior. We are also raising our estimate for the full year. We continue to believe that we are extremely well positioned to capitalize on the value-conscious mindset of consumers in the U.S. and abroad, as well as the quantity of great quality goods in the marketplace.” For the second quarter of Fiscal 2011, the Company's raised guidance of $.70 - $.73 in earnings per share would represent an increase of 15% - 20% over $.61 per share last year. With this updated outlook for the second quarter, the Company is raising its guidance for full year Fiscal 2011 earnings per share to the range of $3.24 - $3.33, up an estimated 14% - 17% over $2.84 in Fiscal 2010. The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. The Company operates 903 T.J. Maxx, 819 Marshalls, 328 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, 281 T.K. Maxx and 19 HomeSense stores. TJX's press releases and financial information are also available on the Internet at www.tjx.com. June and July Fiscal 2011 Sales Recorded Calls A recorded message with more detailed information regarding TJX's June 2010 sales results, operations and business trends is available via the Internet at www.tjx.com, or by calling (703) 736-7248 through Thursday, July 15, 2010. The Company expects to release its July 2010 sales results on Thursday, August 5, 2010, at approximately 8:15 a.m. ET. Concurrent with that press release, a recorded message with more detailed information regarding TJX's July sales results, operations and business trends will be available via the Internet at www.tjx.com, or by calling (703) 736-7248 through Thursday, August 12, 2010. Second Quarter Fiscal 2011 Earnings Conference Call Additionally, the Company expects to release its second quarter Fiscal 2011 earnings on Tuesday, August 17, 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 second 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 (866) 367-5577 through Tuesday, August 24, 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.