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Press release from Business Wire

The TJX Companies, Inc. Reports 7% January 2012 Comp Store Sales Increase; Updates Earnings Outlook

Thursday, February 02, 2012

The TJX Companies, Inc. Reports 7% January 2012 Comp Store Sales Increase; Updates Earnings Outlook08:31 EST Thursday, February 02, 2012 FRAMINGHAM, Mass. (Business Wire) -- The TJX Companies, Inc. (NYSE: TJX) today reported January 2012 sales results. Sales for the four-week period ended January 28, 2012, were $1.4 billion, up 5% over the $1.3 billion achieved during the four-week period ended January 29, 2011. For the 52 weeks ended January 28, 2012, sales reached $23.2 billion, up 6% over the $21.9 billion achieved during the 52-week period last year. Consolidated comparable store sales for the four-week period ended January 28, 2012 increased 7% compared to last year. For the 13-week fourth quarter, consolidated comparable same store sales increased 7% over last year. For the 52-week, year-to-date period, consolidated comparable store sales increased 4% compared to last year. Carol Meyrowitz, Chief Executive Officer of The TJX Companies, Inc., stated, “We are pleased with our above-plan 7% comparable store sales increase in January on both a consolidated basis and at The Marmaxx Group. Further, every division of the Company delivered strong sales results in the month. We believe that our tremendous value proposition on great brands and fashions continued to drive large increases in customer traffic. It's exciting to see so many customers drawn to our values and the strong momentum in our business as we enter the new fiscal year. In addition, with lean inventories that are in excellent shape, we are extremely well positioned to flow fresh, terrific spring product to our stores.” Updated Fourth Quarter Fiscal 2012 Guidance The Company now expects fourth quarter Fiscal 2012 earnings per share to be at or slightly above the high end of its previously estimated range of $1.19 - $1.23. This guidance includes the net impact from several items that affect comparability of results, including previously discussed costs related to closing the Company's StyleSense stores, an early retirement program, the closure of a European office facility, and a separation agreement, as well as write-offs and adjustments at TJX Europe, offset in part by the net benefit of tax adjustments. As a reminder, the Company announced a 2-for-1 stock split on January 5, 2012. The Company's stock will begin trading at its new split-adjusted price on Friday, February 3, 2012 and the Company will be reporting its fourth quarter and year-end earnings per share numbers on February 22, 2012 on a post-split basis, which will be approximately half the pre-split numbers. 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. The Company operates 983 T.J. Maxx, 884 Marshalls, and 374 HomeGoods stores in the United States; 216 Winners, 86 HomeSense, and 6 Marshalls stores in Canada; and 332 T.K. Maxx and 24 HomeSense stores in Europe. TJX's press releases and financial information are also available at www.tjx.com. January and February 2012 Sales Recorded Calls A recorded message with more detailed information regarding TJX's January 2012 sales, operations and business trends is available at www.tjx.com, or by calling (703) 736-7248 through Thursday, February 9, 2012. The Company expects to release its February 2012 sales on Thursday, March 1, 2012, 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 at www.tjx.com, or by calling (703) 736-7248 through Thursday, March 8, 2012. Fourth Quarter and Fiscal Year 2012 Conference Call Additionally, the Company expects to release its Fiscal 2012 fourth quarter and year-end earnings on Wednesday, February 22, 2012, 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 2012 results, operations and business trends, as well as expectations for Fiscal 2013. 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, February 29, 2012. 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