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Press release from Business Wire

The TJX Companies, Inc. Reports July 2011 Sales; Raises Second Quarter EPS Guidance

Thursday, August 04, 2011

The TJX Companies, Inc. Reports July 2011 Sales; Raises Second Quarter EPS Guidance08:34 EDT Thursday, August 04, 2011 FRAMINGHAM, Mass. (Business Wire) -- The TJX Companies, Inc. (NYSE: TJX) today reported July 2011 sales results. Sales for the four-week period ended July 30, 2011, were $1.6 billion, up 8% over the $1.5 billion achieved during the four-week period ended July 31, 2010. For the 26-week period ended July 30, 2011, sales reached $10.7 billion, a 6% increase over the $10.1 billion achieved in the same period last year. Consolidated comparable store sales for the four-week period ended July 30, 2011 increased 4% over last year. For the 13-week second quarter, consolidated comparable store sales increased 4% over last year. For the 26-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 4% consolidated comparable store sales increase in July exceeded our expectations. We are particularly pleased with our continued strength at The Marmaxx Group, our largest division, where comparable store sales increased 5% in July, above our already raised expectations for the month. Customer traffic continues to be up over significant increases last year as our tremendous values attract new and loyal customers. With above-plan sales and continued strength in merchandise margins, we are raising our outlook for second quarter earnings per share. We are in an excellent position entering the third quarter, with great back-to-school apparel and dorm room assortments for our customers at great values. The marketplace is full of quality product and we will be utilizing our flexibility to take advantage of these opportunities.” For the second quarter of Fiscal 2012, the Company now expects diluted earnings per share to be $.88 - $.89, above its previously projected range, 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 Company's new projected range for EPS would represent a 21% to 22% increase over the adjusted $.73 in the prior year. 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 366 HomeGoods stores in the United States, 213 Winners, 82 HomeSense, 5 Marshalls, and 3 STYLESENSE stores in Canada, and 322 T.K. Maxx and 24 HomeSense stores in Europe. TJX's press releases and financial information are also available at www.tjx.com. July and August 2011 Sales Recorded Calls A recorded message with more detailed information regarding TJX's July 2011 sales, operations and business trends is available at www.tjx.com, or by calling (703) 736-7248 through Thursday, August 11, 2011. The Company expects to release its August 2011 sales on Thursday, September 1, 2011, at approximately 8:15 a.m. ET. Concurrent with that press release, a recorded message with more detailed information regarding TJX's August sales, operations and business trends will be available at www.tjx.com, or by calling (703) 736-7248 through Thursday, September 8, 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. 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