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Press release from Business Wire

The TJX Companies, Inc. Reports April 2011 Sales; Updates First Quarter EPS Guidance

Thursday, May 05, 2011

The TJX Companies, Inc. Reports April 2011 Sales; Updates First Quarter EPS Guidance08:43 EDT Thursday, May 05, 2011 FRAMINGHAM, Mass. (Business Wire) -- The TJX Companies, Inc. (NYSE: TJX) today reported April 2011 sales results. Sales for the four-week period ended April 30, 2011, were $1.7 billion, up 9% over the $1.6 billion achieved during the four-week period ended May 1, 2010. For the 13-week period ended April 30, 2011, sales reached $5.2 billion, a 4% increase over the $5.0 billion achieved in the same period last year. Consolidated comparable store sales for the four-week period ended April 30, 2011 increased 5% compared with a 4% increase in the same period last year. For the 13-week, year-to-date period, consolidated comparable store sales increased 2% on top of a strong 9% increase in the same period last year. Carol Meyrowitz, Chief Executive Officer of The TJX Companies, Inc., stated, “We are pleased that our April consolidated comparable store sales increase of 5% exceeded our expectations which reflected the timing of a later Easter this year than last. It's worth noting that these results were achieved despite unfavorable weather in many U.S. and Canadian regions. We are particularly pleased that April comp sales at The Marmaxx Group far exceeded our expectations. Further, the tone of business was strong toward the end of the month which bodes well as we enter the second quarter. We continue to be extremely well positioned to offer great value on current fashions in an exciting, ever-changing merchandise assortment.” The Company expects first quarter earnings per share to be solidly within the anticipated range that it provided on February 23, 2011, both on a GAAP and adjusted basis (excluding A.J. Wright consolidation). This guidance now includes a $.03 per share negative impact from foreign currency exchange due to an expected mark-to-market adjustment on the Company's inventory-related hedges, which was not contemplated in its original guidance and the impact of which will effectively reverse in the second quarter. (More detailed information on the Company's guidance for the Fiscal 2012 first quarter is available in the investor information section of www.tjx.com.) The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. The Company operates 956 T.J. Maxx, 872 Marshalls, and 350 HomeGoods stores in the United States, 213 Winners, 82 HomeSense, 5 Marshalls, and 3 STYLESENSE stores in Canada, and 316 T.K. Maxx and 24 HomeSense stores in Europe. TJX's press releases and financial information are also available on the Internet at www.tjx.com. April and May 2011 Sales Recorded Calls A recorded message with more detailed information regarding TJX's April 2011 sales, operations and business trends is available via the Internet at www.tjx.com, or by calling (703) 736-7248 through Thursday, May 12, 2011. The Company expects to release its May 2011 sales on Thursday, June 2, 2011, at approximately 8:15 a.m. ET. Concurrent with that press release, a recorded message with more detailed information regarding TJX's May sales, operations and business trends will be available via the Internet at www.tjx.com, or by calling (703) 736-7248 through Thursday, June 9, 2011. First Quarter Fiscal 2012 Conference Call Additionally, the Company expects to release its first quarter earnings on Tuesday, May 17, 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 first quarter Fiscal 2012 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 24, 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: global economies and credit and financial markets; foreign currency exchange rates; buying and inventory management; market, geographic and category expansion; customer trends and preferences; 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; commodity 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.Sherry LangSenior Vice PresidentGlobal Communications(508) 390-2323