The TJX Companies, Inc. Reports July 2002 Sales and Strong Merchandise Margins

FRAMINGHAM, Mass.--(BUSINESS WIRE)--Aug. 8, 2002--The TJX Companies, Inc. (NYSE: TJX) today reported July 2002 sales results. Sales for the four-week period ended August 3, 2002 were $810 million, up 9% over $745 million achieved during the same four-week period ended August 4, 2001. For the 26 weeks ended August 3, 2002, sales reached $5,477 million, an increase of 14% over last year's $4,812 million. Consolidated comparable store sales for the four-week period ended August 3, 2002 were down 1% versus last year. For the 13-week second quarter, comparable store sales increased 2% over last year. For the 26-week year-to-date period, consolidated comparable store sales increased 4% over last year.

Edmond J. English, President and Chief Executive Officer of The TJX Companies, Inc. stated, "July is typically a clearance month and, as we stated at the end of June, we entered July with significantly less summer merchandise to clear than in prior July periods. That, along with very hot weather, resulted in lower comparable store sales. However, merchandise margins and second quarter profits were positively effected. With some favorable early reads on our fall fashions, we are positioned extremely well to take advantage of the great buys in the marketplace and we remain confident about our opportunities in the third quarter and back half of the 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 701 T.J. Maxx, 600 Marshalls, 132 HomeGoods and 56 A.J. Wright stores in the United States. In Canada, the Company operates 137 Winners and 11 HomeSense stores, and in Europe, 113 T.K. Maxx stores. TJX's press releases and financial information are also available at www.tjx.com.

A recorded message with more detailed information regarding TJX's July 2002 sales results and its business is available by calling [phone] or via the Internet at www.tjx.com. The recording will remain available via the phone and Internet through Thursday, August 15, 2002. Additionally, the Company expects to release its second quarter fiscal 2003 earnings on Tuesday, August 13, 2002 before 9:30 a.m. EDT. At 11:00 a.m. EDT that day, Edmond English, President and Chief Executive Officer of The TJX Companies, will hold a conference call with stock analysts to discuss the Company's second quarter results. 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 and at [phone] through August 20, 2002.