Press release from Business Wire
The TJX Companies, Inc. Reports 7% July 2012 Comp Sales Increase; Further Raises Second Quarter and Full Year EPS Guidance
Thursday, August 02, 2012
FRAMINGHAM, Mass. (Business Wire) -- The TJX Companies, Inc. (NYSE: TJX) today reported July 2012 sales results. Sales for the four-week period ended July 28, 2012, were $1.8 billion, up 8% over the $1.6 billion achieved during the four-week period ended July 30, 2011. For the 26-week period ended July 28, 2012, sales reached $11.8 billion, a 10% increase over the $10.7 billion achieved in the same period last year. Consolidated comparable store sales for the four-week period ended July 28, 2012 increased 7% over last year. For the 13-week second quarter, consolidated comparable store sales also increased 7% over last year. For the 26-week, year-to-date period, consolidated comparable store sales increased 8% over the same period last year.
Carol Meyrowitz, Chief Executive Officer of The TJX Companies, Inc., stated, “We are very pleased to report that our strong momentum continued in July. Our consolidated comp store sales increase of 7% in the month significantly exceeded our expectations and was achieved over a 4% increase last year. Customer traffic was up substantially at all divisions and drove most of the comp increase, which we believe speaks to our on-point fashions and brands at great values and wide customer demographic appeal. With above-plan sales and strong margins in July, we now expect second quarter earnings per share to be approximately $.55, above our recently raised guidance and up significantly over last year. For the full year, we are now expecting earnings per share to be in the range of $2.38 - $2.44. We enter the third quarter in a very strong position, poised to capitalize on our many opportunities for the second half of 2012. Our inventories are in great shape, allowing us to consistently flow to our stores an exciting mix of fresh back-to-school merchandise at amazing values. This, along with our great marketing campaigns, gives us deep confidence that we will continue to fuel sales by driving customer traffic to our stores.”
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 1,005 T.J. Maxx, 891 Marshalls, and 393 HomeGoods stores in the United States; 220 Winners, 87 HomeSense, and 12 Marshalls stores in Canada; and 338 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 2012 Sales Recorded Calls
A recorded message with more detailed information regarding TJX's July 2012 sales, operations and business trends is available at www.tjx.com, or by calling (703) 736-7248 through Thursday, August 9, 2012. The Company expects to release its August 2012 sales on Thursday, August 30, 2012, 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 6, 2012.
Second Quarter Fiscal 2013 Earnings Conference Call
Additionally, the Company expects to release its second quarter earnings on Tuesday, August 14, 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 second quarter Fiscal 2013 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, August 21, 2012.
Important Information at Website
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: buying and inventory management; operational expansion and management of large size and scale; customer trends and preferences; market, banner, geographic and category expansion; marketing, advertising and promotional programs; competition; personnel recruitment and retention; global economic conditions and consumer spending; data security; information systems and technology; seasonal influences; adverse or unseasonable weather; serious disruptions and catastrophic events; corporate and banner reputation; merchandise quality and safety; international operations; merchandise importing; commodity pricing; foreign currency exchange rates; fluctuations in quarterly operating results; market expectations; acquisitions and divestitures; compliance with laws, regulations and orders; changes in laws and regulations; outcomes of litigation, legal matters and proceedings; tax matters; real estate leasing; cash flow 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