The TJX Companies, Inc. Reports September 2004 Sales; Maintains Third Quarter Estimate

FRAMINGHAM, Mass.--(BUSINESS WIRE)--Oct. 7, 2004--The TJX Companies, Inc. (NYSE:TJX) today reported September 2004 sales results. Sales for the five-week period ended October 2, 2004, were $1.4 billion, up 9% over $1.3 billion achieved during the five-week period ended October 4, 2003. For the 35 weeks ended October 2, 2004, sales reached $9.3 billion, a 14% increase over last year's $8.2 billion. Consolidated comparable store sales for the five-week period ended October 2, 2004, increased 1% over last year's very strong 8% increase. For the 35-week, year-to-date period, consolidated comparable store sales increased 5% over last year.

Edmond J. English, President and Chief Executive Officer of The TJX Companies, Inc., stated, "As we entered September, we expected a challenging month because of the difficult comparisons to last year, when the weather was extremely favorable. Compounding these tough year-over-year comparisons was the negative impact of the hurricanes, which was meaningful to our business, as we operate 121 stores in Florida and 20 stores in Puerto Rico. Excluding Florida and Puerto Rico, our consolidated comparable store sales were up 2%, and within our expectations. Although the overall comparable store sales increase of 1% was below our expectations, we are maintaining our previously stated projected range for third quarter earnings per share of $.39 - $.42, but anticipate that we will come in at the lower end of that range."

The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. The Company operates 761 T.J. Maxx, 690 Marshalls, 199 HomeGoods and 115 A.J. Wright stores, as well as 31 Bob's Stores, in the United States. In Canada, the Company operates 164 Winners and 35 HomeSense stores, and in Europe, 157 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 September 2004 sales results, operations and business trends is available via the Internet at www.tjx.com, or by calling [phone] through Thursday, October 14, 2004. The Company expects to release its October 2004 sales on Thursday, November 4, 2004, at approximately 8:15 a.m. ET. Concurrent with that press release, a recorded message with more detailed information regarding TJX's October sales results, operations and business trends will be available via the Internet at www.tjx.com, or by calling [phone] through Thursday, November 11, 2004. Additionally, the Company expects to release third quarter fiscal 2005 earnings on Tuesday, November 16, 2004, before 9:30 a.m. ET. At 11:00 a.m. ET 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 or by dialing 800-216-3087 through Tuesday, November 23, 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.