The TJX Companies, Inc. Reports Strong March 2004 Sales; Anticipates Better-Than-Expected First Quarter

FRAMINGHAM, Mass.--(BUSINESS WIRE)--April 8, 2004--The TJX Companies, Inc. (NYSE:TJX) today reported March 2004 sales results. Sales for the five-week period ended April 3, 2004, were $1,326 million, up 20% over the $1,109 million achieved during the five-week period ended April 5, 2003. For the nine weeks ended April 3, 2004, sales reached $2,260 million, a 20% increase over last year's $1,885 million. Consolidated comparable store sales for the five-week period ended April 3, 2004, increased 9% over last year. For the nine-week, year-to-date period, consolidated comparable store sales increased 10% over last year.

Edmond English, President and Chief Executive Officer of The TJX Companies, Inc., commented, "We are very pleased that March sales were above our expectations. The tone of business continued to be robust as customers responded to our fresh assortments of spring fashions and great values. Based on our strong February and March sales, we are well positioned to achieve first quarter earnings per share that are slightly above our previously anticipated range, which represents a significant increase over the prior year. Inventories are in excellent shape and product flow continues to be very strong."

The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. The Company operates 748 T.J. Maxx, 678 Marshalls, 184 HomeGoods, and 100 A.J. Wright stores, as well as 31 Bob's Stores, in the United States. In Canada, the Company operates 162 Winners and 30 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 March 2004 sales results, operations and business trends is available by calling [phone] or via the Internet at www.tjx.com. The sales recording will remain available via the phone and Internet through Thursday, April 15, 2004. TJX expects to release its April 2004 sales results on Thursday, May 6, 2004, at approximately 8:15 a.m. EST. Concurrent with that press release, a recorded message with more detailed information regarding TJX's April sales results, operations and business trends will be available by calling [phone] or via the Internet at www.tjx.com. That sales recording will remain available via the phone and Internet through Thursday, May 13, 2004. Additionally, the Company expects to release first quarter fiscal 2005 earnings on Tuesday, May 18, 2004, 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 first 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 by dialing [phone] through Tuesday, May 25, 2004. Archived versions of our recorded messages and conference calls are available at www.tjx.com after they are no longer available by telephone.

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: our ability to continue successful expansion of our store base; risks of expansion; our ability to successfully implement our opportunistic inventory strategies and to effectively manage our inventories; consumer confidence, demand, spending habits and buying preferences; effects of unseasonable weather; competitive factors; factors affecting availability of store and distribution center locations on suitable terms; factors affecting our recruitment and employment of associates; factors affecting expenses; success of our acquisition and divestiture activities; our ability to successfully implement technologies and systems; our ability to continue to generate adequate cash flows; general economic conditions; potential disruptions due to wars, natural disasters and other events beyond our control; changes in currency and exchange rates; import risks; adverse outcomes for any significant litigation; changes in laws and regulations and accounting rules and principles; 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.