Press release from Business Wire
The TJX Companies, Inc. Reports September 2010 Sales; Updates Third Quarter Guidance
Thursday, October 07, 2010
The TJX Companies, Inc. Reports September 2010 Sales; Updates Third Quarter Guidance08:42 EDT Thursday, October 07, 2010 FRAMINGHAM, Mass. (Business Wire) -- The TJX Companies, Inc. (NYSE: TJX) today reported September 2010 sales results. Sales for the five-week period ended October 2, 2010, were $2.1 billion, up 6% over the $2.0 billion achieved during the five-week period ended October 3, 2009. For the 35 weeks ended October 2, 2010, sales reached $13.8 billion, up 9% over the $12.6 billion achieved during the 35-week period last year. Consolidated comparable store sales increased 1% compared to last year for the five-week period ended October 2, 2010. For the 35-week, year-to-date period, consolidated comparable store sales increased 5% compared to last year. Carol Meyrowitz, President and Chief Executive Officer of The TJX Companies, Inc., stated, “We are pleased that September consolidated comparable store sales were at the high end of our expectations and The Marmaxx Group exceeded our planned range. Both of these increases were achieved over high-single-digit comp sales increases last year. It's important to note that we believe our comp increases would have been even stronger were it not for the warm and wet weather during the last week of the month, which significantly hurt sales in the Northeast and Mid-Atlantic. Customer traffic continues to increase as value-conscious customers are drawn to our stores by a great mix of current fashions and top brands at compelling values. With on-plan sales in August and September, and continued strength in merchandise margins, we now expect third quarter earnings per share to be in the range of $.89 - $.91. As we move through the fall selling season, we are in an excellent inventory position, which enables us to take advantage of the quantity and quality of product that we are seeing 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 912 T.J. Maxx, 825 Marshalls, 329 HomeGoods, and 158 A.J. Wright stores in the United States. In Canada, the Company operates 211 Winners, 80 HomeSense and 3 STYLESENSE stores, and in Europe, 295 T.K. Maxx and 24 HomeSense stores. TJX's press releases and financial information are also available on the Internet at www.tjx.com. September and October Fiscal 2011 Sales Recorded Calls A recorded message with more detailed information regarding TJX's September 2010 sales results, operations and business trends is available via the Internet at www.tjx.com, or by calling (703) 736-7248 through Thursday, October 14, 2010. The Company expects to release its October 2010 sales results on Thursday, November 4, 2010, at approximately 8:15 a.m. ET. Concurrent with that press release, a recorded message with more detailed information regarding TJX's October sales results, operations and business trends will be available via the Internet at www.tjx.com, or by calling (703) 736-7248 through Thursday, November 11, 2010. Third Quarter Fiscal 2011 Conference Call Additionally, the Company expects to release its third quarter earnings on Tuesday, November 16, 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 third 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, November 23, 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.