Press release from Business Wire
The TJX Companies, Inc. Reports Above-Plan June 2011 Sales; Updates Second Quarter EPS Guidance
Thursday, July 07, 2011
FRAMINGHAM, Mass. (Business Wire) -- The TJX Companies, Inc. (NYSE: TJX) today reported June 2011 sales results. Sales for the five-week period ended July 2, 2011, were $2.1 billion, up 8% over the $2.0 billion achieved during the five-week period ended July 3, 2010. For the 22-week period ended July 2, 2011, sales reached $9.1 billion, a 6% increase over the $8.6 billion achieved in the same period last year. Consolidated comparable store sales for the five-week period ended July 2, 2011 increased 5% over last year. For the 22-week, year-to-date period, consolidated comparable store sales increased 3% over the same period last year.
Carol Meyrowitz, Chief Executive Officer of The TJX Companies, Inc., stated, “We are very pleased that our 5% consolidated comparable store sales increase in June well exceeded our expectations. We are particularly pleased with The Marmaxx Group's continued strong performance, with comp sales increasing 6%, significantly higher than we expected. Customer traffic continues to increase as we continue to offer the consumer excellent values through brands, fashion, quality and price. With above-plan sales and continued strength in merchandise margins in June, we now expect second quarter earnings per share to be at or slightly above the high end of our previously projected range of $.81 to $.86. Our continued strong trends in June bode well for the balance of the summer selling season and into fall. The marketplace is presenting exciting opportunities for quality, branded merchandise, and we are in an excellent position to capitalize on them.”
For the second quarter of Fiscal 2012, the Company now expects diluted earnings per share to be at or slightly above the high end of its previously projected range of $.81 to $.86, compared with $.74 per share last year on a GAAP basis. Prior year second quarter earnings per share included a $.01 positive impact from a reduction in the Company's provision related to the computer intrusion(s) that took place over four years ago. Excluding this item, the $.86 high end of the Company's previously projected range would represent an 18% increase over the adjusted $.73 in the prior year. This guidance is now based upon estimated consolidated comparable store sales growth of 3% - 4% in the second quarter.
The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. The Company operates 963 T.J. Maxx, 875 Marshalls, and 364 HomeGoods stores in the United States, 213 Winners, 82 HomeSense, 5 Marshalls, and 3 STYLESENSE stores in Canada, and 320 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.
June and July 2011 Sales Recorded Calls
A recorded message with more detailed information regarding TJX's June 2011 sales, operations and business trends is available via the Internet at www.tjx.com, or by calling (703) 736-7248 through Thursday, July 14, 2011. The Company expects to release its July 2011 sales on Thursday, August 4, 2011, at approximately 8:15 a.m. ET. Concurrent with that press release, a recorded message with more detailed information regarding TJX's July sales, operations and business trends will be available via the Internet at www.tjx.com, or by calling (703) 736-7248 through Thursday, August 11, 2011.
Second Quarter Fiscal 2012 Earnings Conference Call
Additionally, the Company expects to release its second quarter Fiscal 2012 earnings on Tuesday, August 16, 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 second 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 (866) 367-5577 through Tuesday, August 23, 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.
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.
Senior Vice President