The TJX Companies, Inc. Reports In-Line May 2008 Sales
FRAMINGHAM, Mass.--(BUSINESS WIRE)--The TJX Companies, Inc. (NYSE: TJX) today reported May 2008 sales results. Sales for the four-week period ended May 31, 2008, were $1.45 billion, up 6% over the $1.37 billion achieved during the four-week period ended June 2, 2007. For the 17 weeks ended May 31, 2008, sales reached $5.9 billion, up 6% over the $5.5 billion achieved during the 17 weeks ended June 2, 2007. Consolidated comparable store sales for the four-week period ended May 31, 2008, increased 2% over last year. For the 17-week period ended May 31, 2008, consolidated comparable store sales increased 3% over last year.
Carol Meyrowitz, President and Chief Executive Officer of The TJX Companies, Inc., stated, “Our 2% consolidated comparable store sales increase in May was at the high end of our expectations and on top of a strong increase last year. All of our off-price divisions met or exceeded our expectations for comparable store sales increases in the month. In regions where weather was seasonable, comparable store sales were particularly strong. We achieved these results despite the challenging retail environment by remaining focused on the fundamentals of our off-price business model, with inventories in excellent shape. Throughout the month, we maintained a consistent flow of great brands and fresh fashion to our stores at compelling values that continue to resonate with our customers.”
The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. The Company operates 859 T.J. Maxx, 787 Marshalls, 296 HomeGoods, and 132 A.J. Wright stores, as well as 34 Bob’s Stores, in the United States. In Canada, the Company operates 196 Winners and 73 HomeSense stores, and in Europe, 229 T.K. Maxx stores and 6 HomeSense 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 May 2008 sales results, operations and business trends is available via the Internet at www.tjx.com, or by calling (703) 736-7248 through Thursday, June 12, 2008. The Company expects to release its June 2008 sales results on Thursday, July 10, 2008, at approximately 8:15 a.m. ET. Concurrent with that press release, a recorded message with more detailed information regarding TJX’s June sales results, operations and business trends will be available via the Internet at www.tjx.com, or by calling (703) 736-7248 through Thursday, July 17, 2008. 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 STATEMENT 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: matters relating to the computer intrusion(s) including potential losses that could differ from our reserve, potential effects on our reputation and sales and other consequences to the value of our Company and related value of our stock; our ability to successfully expand our store base and increase same store sales; risks of expansion and costs of contraction; risks inherent in foreign operations; our ability to successfully implement our opportunistic buying strategies and to manage our inventories effectively; successful advertising and promotion; consumer confidence, demand, spending habits and buying preferences; effects of unseasonable weather; competitive factors; availability of store and distribution center locations on suitable terms; our ability to recruit and retain associates; factors affecting expenses; success of our acquisition and divestiture activities; our ability to successfully implement technologies and systems and protect data; our ability to continue to generate adequate cash flows; our ability to execute our share repurchase program; availability and cost of financing; general economic conditions, including fluctuations in the price of oil; potential disruptions due to wars, natural disasters and other events beyond our control; changes in currency and exchange rates; issues with merchandise quality and safety; import risks; adverse outcomes for any significant litigation; compliance with and changes in laws and regulations and accounting rules and principles; adequacy of reserves; closing adjustments; failure to meet market expectations; 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.
