The TJX Companies, Inc. Reports July 2004 Sales; Expects Second Quarter Earnings Per Share of $.23 - $.24

FRAMINGHAM, Mass.--(BUSINESS WIRE)--Aug. 5, 2004--The TJX Companies, Inc. (NYSE:TJX) today reported July 2004 sales results. Sales for the four-week period ended July 31, 2004, were $1.0 billion, up 12% over $899 million achieved during the four-week period ended August 2, 2003. For the 26 weeks ended July 31, 2004, sales reached $6.8 billion, a 15% increase over last year's $5.9 billion. Consolidated comparable store sales for the four-week period ended July 31, 2004, increased 3% over last year. For the 13-week second quarter, comparable store sales rose 3% above last year. For the 26-week, year-to-date period, consolidated comparable store sales increased 6% over last year.

Edmond J. English, President and Chief Executive Officer of The TJX Companies, Inc., stated, "Driven by strong performance at our Winners business in Canada, overall comparable store sales in July were within our expected range. Sales at our other divisions came in below expectations, leading to a higher level of markdown activity in the month than we had anticipated. Therefore, we now expect second quarter earnings per share in the $.23 - $.24 range. Although sales at The Marmaxx Group were slightly below what we had anticipated, we are encouraged by the continued strong trends in women's sportswear, footwear, jewelry and accessories at this major division. As we enter the third quarter, we are very pleased with inventory levels and our liquid open-to-buy position, and we remain confident in our ability to achieve our goals for the balance 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 753 T.J. Maxx, 684 Marshalls, 192 HomeGoods, and 108 A.J. Wright stores, as well as 31 Bob's Stores, in the United States. In Canada, the Company operates 162 Winners and 32 HomeSense stores, and in Europe, 154 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 July 2004 sales results, operations and business trends is available via the Internet at www.tjx.com, or by calling [phone] through Thursday, August 12, 2004. Additionally, the Company expects to release its second quarter fiscal 2005 earnings on Tuesday, August 17, 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 second 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 or by dialing 888-300-0172 through Tuesday, August 24, 2004. The Company expects to release its August 2004 sales on Thursday, September 2, 2004, at approximately 8:15 a.m. EDT. Concurrent with that press release, a recorded message with more detailed information regarding TJX's August sales results, operations and business trends will be available via the Internet at www.tjx.com, or by calling [phone] through Thursday, September 9, 2004. Archived versions of the Company's 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.