The TJX Companies, Inc. Reports April 2004 Sales; Continues to Expect Very Strong First Quarter Earnings Growth

FRAMINGHAM, Mass.--(BUSINESS WIRE)--May 6, 2004--The TJX Companies, Inc. (NYSE: TJX) today reported April 2004 sales results. Sales for the four-week period ended May 1, 2004, were $1,093 million, up 14% over the $956 million achieved during the four-week period ended May 3, 2003. For the thirteen weeks ended May 1, 2004, sales reached $3,353 million, an 18% increase over last year's $2,841 million. Consolidated comparable store sales for the four-week period ended May 1, 2004, increased 5% over last year. For the thirteen-week period ended May 1, 2004, consolidated comparable store sales increased 8% over last year.

Edmond English, President and Chief Executive Officer of The TJX Companies, Inc., commented, "We are pleased that our comp sales increase in April was in line with our expectations, with continued favorable customer response to our exciting spring fashions at great values. We remain comfortable in our ability to achieve first quarter earnings per share that are slightly above the range we anticipated at the outset of the quarter, which represents a significant increase over last year's results. Our inventories are in great shape and we are in a very liquid open-to-buy position, which allows us to continue to take advantage of the numerous buying opportunities in the marketplace."

The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. The Company operates 753 T.J. Maxx, 679 Marshalls, 185 HomeGoods, and 102 A.J. Wright stores, as well as 31 Bob's Stores, in the United States. In Canada, the Company operates 162 Winners and 31 HomeSense stores, and in Europe, 148 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 April 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, May 13, 2004. Additionally, the Company expects to release first quarter fiscal 2005 earnings on Tuesday, May 18, 2004, 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, 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. TJX expects to release its May 2004 sales results on Thursday, June 3, 2004, at approximately 8:15 a.m. EDT. Concurrent with that press release, a recorded message with more detailed information regarding TJX's May 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, June 10, 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.