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Press release from Business Wire

The TJX Companies, Inc. Reports Above-Plan January Sales; Expects Fourth Quarter Earnings to Exceed Forecast

Thursday, February 03, 2011

The TJX Companies, Inc. Reports Above-Plan January Sales; Expects Fourth Quarter Earnings to Exceed Forecast08:37 EST Thursday, February 03, 2011 FRAMINGHAM, Mass. (Business Wire) -- The TJX Companies, Inc. (NYSE: TJX) today reported January 2011 sales results. Sales for the four-week period ended January 29, 2011, were $1.35 billion, up 8% over the $1.25 billion achieved during the four-week period ended January 30, 2010. For the 52 weeks ended January 29, 2011, sales reached $22.1 billion, up 9% over the $20.3 billion achieved during the 52-week period last year. Consolidated comparable store sales for the four-week period ended January 29, 2011 increased 2% compared to 12% last year. For the 13-week fourth quarter, consolidated comparable store sales increased 2% over a 12% increase last year. For the 52-week, year-to-date period, consolidated comparable store sales increased 4% over a 6% increase last year. Carol Meyrowitz, Chief Executive Officer of The TJX Companies, Inc., stated, “I am particularly pleased with January's comparable store sales increases of 2% on both a consolidated basis and at The Marmaxx Group. Both were well above our expectations and achieved over very strong double-digit increases in January last year. Further, we achieved these increases despite some of the worst winter storms in many years in the Northeast and the Midwest, where we have a heavy concentration of stores. With strong sales and margins, we are raising our previous outlook for this year's fourth quarter and full year earnings per share. We now expect fourth quarter adjusted earnings per share to be slightly above the high end of our prior range of $.97 - $1.01 with a corresponding increase for the full year. We begin our new fiscal year in an excellent inventory position. This gives us great flexibility with which to capitalize on the abundant opportunities that we are seeing in the marketplace, which translates into great value for our customers.” About The TJX Companies, Inc. The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. As of January 29, 2011, the Company operated 923 T.J. Maxx, 830 Marshalls, 336 HomeGoods, and 142 A.J. Wright stores in the United States, 212 Winners, 82 HomeSense and 3 STYLESENSE stores in Canada, and 307 T.K. Maxx and 24 HomeSense stores in Europe. In addition, 14 A.J. Wright stores that have closed are in the process of being converted into other TJX banners. TJX's press releases and financial information are also available on the Internet at www.tjx.com. January and February 2011 Recorded Sales Calls A recorded message with more detailed information regarding TJX's January 2011 sales, operations and business trends is available via the Internet at www.tjx.com, or by calling (703) 736-7248 through Thursday, February 10, 2011. The Company expects to release its February 2011 sales on Thursday, March 3, 2011, at approximately 8:15 a.m. ET. Concurrent with that press release, a recorded message with more detailed information regarding TJX's February sales, operations and business trends will be available via the Internet at www.tjx.com, or by calling (703) 736-7248 through Thursday, March 10, 2011. Fourth Quarter and Fiscal Year 2011 Conference Call Additionally, the Company expects to release its Fiscal 2011 fourth quarter and year-end earnings on Wednesday, February 23, 2011, before 9:30 a.m. ET. At 11:00 a.m. ET that day, Carol Meyrowitz, TJX's Chief Executive Officer, will hold a conference call with stock analysts to discuss the Company's Fiscal 2011 results, operations and business trends, as well as expectations for Fiscal 2012. 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 Wednesday, March 2, 2011. 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: actual results of A.J. Wright consolidation; 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. The TJX Companies, Inc.Appendix to February 3, 2011 Press Release The Company now expects fourth quarter and full year earnings per share slightly above its previously projected adjusted earnings per share ranges, which are referred to in the press release and reconciled to estimates of the Company's EPS on a GAAP reported basis as follows:             Fiscal 2011 Guidance               FourthQuarter         FullYear EPS Guidance – Reported Basis$.70 - $.71         $3.16 - $3.17Impact of Intrusion(s) Reserve Adjustment$.00($.02)Impact of A.J. Wright Closing$.27 - $.30$.27 - $.30EPS Guidance – Adjusted Basis$.97 - $1.01$3.41 - $3.45Fiscal 2010 Actual EPS$.94$2.84 The TJX Companies, Inc.Sherry LangSenior Vice PresidentGlobal Communications(508) 390-2323