Edmond J. English, President and Chief Executive Officer of The TJX Companies, Inc., stated, "October sales were within our anticipated range, which we had planned conservatively against strong results last year. We are pleased that our third quarter comparable store sales increase of 3% is in line with our expectations. Margins were strong and we are very comfortable with our ability to achieve third quarter earnings per share at the upper end of our estimated $.34 - $.36 range, which represents a significant increase over last year. We are looking forward to the fourth quarter, in which we again have substantial opportunities to increase earnings per share over the same period last year. With inventories in great shape, we will be offering a constant flow of great gift items throughout the holiday season."
The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. The Company operates 744 T.J. Maxx, 664 Marshalls, 175 HomeGoods and 95 A.J. Wright stores in the United States. In Canada, the Company operates 159 Winners and 24 HomeSense stores, and in Europe, 143 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 October 2003 sales results, operations and business trends is available by calling (703) 736-7248 or via the Internet at www.tjx.com. This recording will remain available via the phone and Internet through Thursday, November 13, 2003. Additionally, the Company expects to release its third quarter fiscal 2004 earnings on Tuesday, November 11, 2003, before 9:30 a.m. EST. At 11:00 a.m. EST that day, Edmond English, President and Chief Executive Officer of The TJX Companies, Inc., will hold a conference call with stock analysts to discuss the Company's third quarter 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 and by dialing 800-879-4598 through Tuesday, November 18, 2003.
SAFE HARBOR STATEMENTS 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: general economic conditions including effects of wars, other military actions and terrorist incidents; consumer confidence, demand and preferences; weather patterns; competitive factors, including continuing pressure from pricing and promotional activities of competitors; the impact of excess retail capacity and the availability of desirable store and distribution center locations on suitable terms; recruiting quality sales associates and other associates; the availability, selection and purchasing of attractive merchandise on favorable terms and the effective management of inventory levels; import risks, including potential disruptions in supply and duties, tariffs and quotas on imported merchandise, including economic, political or other problems in countries from which merchandise is imported; currency and exchange rate factors in our foreign and buying operations; ability to continue successful expansion of our store base at the rate projected; risks in the development of new businesses and application of our off-price strategies in additional foreign countries; factors affecting expenses including pressure on wages and benefits; our acquisition and divestment activities; our ultimate liability with respect to leases relating to discontinued operations including indemnification and other factors affecting or mitigating our liability; changes in laws and regulations; 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 therein will not be realized.
