Edmond J. English, President and Chief Executive Officer of The TJX Companies, Inc., stated, "Although we are disappointed that our November comparable store sales were below our anticipated range, we are pleased that margins came in stronger than we had expected and are maintaining our estimate for fourth quarter earnings per share, which represents significant growth. With this December's additional pre-Christmas selling day, we are expecting a later holiday selling season and are well positioned to capitalize upon this by flowing fresh gift assortments right up until the Christmas holiday."
The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. The Company operates 749 T.J. Maxx, 674 Marshalls, 182 HomeGoods and 99 A.J. Wright stores in the United States. In Canada, the Company operates 160 Winners and 25 HomeSense stores, and in Europe, 147 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 November 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, December 11, 2003. The Company expects to release its December 2003 sales on Thursday, January 8, 2004, at approximately 8:15 a.m. EST. Concurrent with that press release, a recorded message with more detailed information regarding TJX's December sales results, operations and business trends will be available via the phone and Internet through Thursday, January 15, 2004.
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.
