Edmond English, President and Chief Executive Officer of The TJX Companies, Inc. stated, "December sales fell short of our expectations. Although sales surged just before Christmas, it was not enough to offset the extreme winter weather experienced throughout the entire central section of the country. Due to the lower-than-planned sales and the markdowns resulting from that sales shortfall, we now expect earnings per share in the fiscal 2001 fourth quarter to be $.46, a 5% increase over last year.
English concluded, "Although we are disappointed with our December sales performance, we are encouraged that, despite the highly promotional environment, our merchandise values stood up well as we were able to achieve our sales targets in all areas of the country unaffected by weather."
The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. The Company operates 662 T.J. Maxx, 536 Marshalls, 81 HomeGoods and 25 A.J. Wright stores in the United States. In Canada, the Company operates 117 Winners, and in Europe, 74 T.K. Maxx stores. TJX's press releases and financial information are also available on the Internet at www.tjx.com.
A recorded message with more detailed information regarding TJX's December sales results is available by calling (703) 736-7248 or via the Internet at www.tjx.com. The sales recording will remain available via the phone and Internet through Thursday, January 11, 2001. Unlike many other companies in the retail industry, TJX's fiscal 2001 does not include an extra week in its fiscal fourth quarter. Accordingly, TJX will release its January 2001 sales results on February 1, 2001 at approximately 8:15 a.m. EST. Concurrent with the press release, a recorded message with more detailed information regarding TJX's January sales results will be available by calling (703) 736-7248 or via the Internet at www.tjx.com. The sales recording will remain available via the phone and Internet through Friday, February 9, 2001.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: Certain statements contained in this release are forward-looking and involve a number of risks and uncertainties. Among the factors that could cause actual results to differ materially are the following: general economic conditions and consumer demand and consumer preferences and weather patterns in the U.S., Canada and Europe; competitive factors, including continuing pressure from pricing and promotional activities of competitors; impact of excess retail capacity and the availability of desirable store locations on suitable terms; the availability, selection and purchasing of attractive merchandise on favorable terms; import risks, including potential disruptions and duties, tariffs and quotas on imported merchandise, including economic and political problems in countries from which merchandise is imported; currency and exchange rate factors in the Company's foreign operations; risks in the development of new businesses and application of the Company's off-price strategies in foreign countries; acquisition and divestment activities and other factors that may be described in the Company's filings with the Securities and Exchange Commission. The Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized.
