Published: February 03, 2011
The TJX Companies, Inc. Reports Above-Plan January Sales; Expects Fourth Quarter Earnings to Exceed Forecast
FRAMINGHAM, Mass. - (BUSINESS WIRE) - The TJX Companies, Inc. (NYSE: TJX) today reported January 2011 sales
results. Sales for the four-week period ended January 29, 2011, were
$1.35 billion, up 8% over the $1.25 billion achieved during the
four-week period ended January 30, 2010. For the 52 weeks ended January
29, 2011, sales reached $22.1 billion, up 9% over the $20.3 billion
achieved during the 52-week period last year. Consolidated comparable
store sales for the four-week period ended January 29, 2011 increased 2%
compared to 12% last year. For the 13-week fourth quarter, consolidated
comparable store sales increased 2% over a 12% increase last year. For
the 52-week, year-to-date period, consolidated comparable store sales
increased 4% over a 6% increase last year.
Carol Meyrowitz, Chief Executive Officer of The TJX Companies, Inc.,
stated, "I am particularly pleased with January's comparable store sales
increases of 2% on both a consolidated basis and at The Marmaxx Group.
Both were well above our expectations and achieved over very strong
double-digit increases in January last year. Further, we achieved these
increases despite some of the worst winter storms in many years in the
Northeast and the Midwest, where we have a heavy concentration of
stores. With strong sales and margins, we are raising our previous
outlook for this year's fourth quarter and full year earnings per share.
We now expect fourth quarter adjusted earnings per share to be slightly
above the high end of our prior range of $.97 - $1.01 with a
corresponding increase for the full year. We begin our new fiscal year
in an excellent inventory position. This gives us great flexibility with
which to capitalize on the abundant opportunities that we are seeing in
the marketplace, which translates into great value for our customers."
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. As of January 29, 2011, the
Company operated 923 T.J. Maxx, 830 Marshalls, 336 HomeGoods, and 142
A.J. Wright stores in the United States, 212 Winners, 82 HomeSense and 3
STYLESENSE stores in Canada, and 307 T.K. Maxx and 24 HomeSense stores
in Europe. In addition, 14 A.J. Wright stores that have closed are in
the process of being converted into other TJX banners. TJX's press
releases and financial information are also available on the Internet at www.tjx.com.
January and February 2011 Recorded Sales Calls
A recorded message with more detailed information regarding TJX's
January 2011 sales, operations and business trends is available via the
Internet at www.tjx.com,
or by calling (703) 736-7248 through Thursday, February 10, 2011. The
Company expects to release its February 2011 sales on Thursday, March 3,
2011, 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 via the
Internet at www.tjx.com,
or by calling (703) 736-7248 through Thursday, March 10, 2011.
Fourth Quarter and Fiscal Year 2011 Conference
Call
Additionally, the Company expects to release its Fiscal 2011 fourth
quarter and year-end earnings on Wednesday, February 23, 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 Fiscal 2011 results, operations and business
trends, as well as expectations for Fiscal 2012. 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, March 2, 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: actual results of A.J. Wright
consolidation; global economies and credit and financial markets;
foreign currency exchange rates; buying and inventory management;
customer trends and preferences; market, geographic and category
expansion; 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; oil 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.
Appendix to February 3, 2011
Press Release
The Company now expects fourth quarter and full year earnings per share
slightly above its previously projected adjusted earnings per share
ranges, which are referred to in the press release and reconciled to
estimates of the Company's EPS on a GAAP reported basis as follows:
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Fiscal 2011 Guidance
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Fourth Quarter
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Full Year
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EPS Guidance - Reported Basis
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$.70 - $.71
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$3.16 - $3.17
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Impact of Intrusion(s) Reserve Adjustment
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$.00
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($.02)
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Impact of A.J. Wright Closing
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$.27 - $.30
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$.27 - $.30
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EPS Guidance - Adjusted Basis
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$.97 - $1.01
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$3.41 - $3.45
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Fiscal 2010 Actual EPS
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$.94
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$2.84
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The TJX Companies, Inc.
Sherry Lang
Senior Vice President
Global
Communications
(508) 390-2323
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