The TJX Companies, Inc. Reports March 2009 Sales; Updates First Quarter Outlook

FRAMINGHAM, Mass.--(BUSINESS WIRE)--The TJX Companies, Inc. (NYSE: TJX) today reported March 2009 sales results. Sales for the five-week period ended April 4, 2009, were $1.7 billion, essentially flat with the $1.7 billion achieved during the five-week period ended April 5, 2008. For the nine weeks ended April 4, 2009, sales reached $2.93 billion, a 1% decrease versus the $2.95 billion achieved during the nine weeks ended April 5, 2008. While total sales were adversely impacted by foreign currency exchange rates, consolidated comparable store sales were up 2% for the five-week period ended April 4, 2009 versus last year. For the nine-week, year-to-date period, consolidated comparable store sales increased 1% over last year.

Carol Meyrowitz, President and Chief Executive Officer of The TJX Companies, Inc., stated, “Our 2% increase in March comparable store sales exceeded our expectations. First and foremost, we attribute this to our excellent value proposition on fresh selections of great brands and fashions, even against today’s highly promotional competition. Additionally, almost every division posted a comp sales increase in this extremely difficult consumer environment. We also believe that the weather in March was more favorable this year than last year, and that one extra selling day in March this year, due to Easter falling in April, helped lift sales. With two consecutive months of sales coming in better than we had expected, we are now anticipating that our first quarter earnings per share will be at or slightly above the high end of our previously forecasted $.32-$.38 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 881 T.J. Maxx, 808 Marshalls, 321 HomeGoods, and 135 A.J. Wright stores in the United States. In Canada, the Company operates 202 Winners, 75 HomeSense and 3 STYLESENSE stores, and in Europe, 238 T.K. Maxx and 8 HomeSense stores. TJX’s press releases and financial information are also available on the Internet at www.tjx.com.

March and April Fiscal 2010 Sales Recorded Calls

A recorded message with more detailed information regarding TJX’s March 2009 sales results, operations and business trends is available via the Internet at www.tjx.com, or by calling (703) 736-7248 through Thursday, April 16, 2009. The Company expects to release its April 2009 sales results on Thursday, May 7, 2009, at approximately 8:15 a.m. ET. 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 via the Internet at www.tjx.com, or by calling (703) 736-7248 through Thursday, May 14, 2009.

First Quarter Fiscal 2010 Earnings Conference Call

The Company expects to release its first quarter Fiscal 2010 earnings on Tuesday, May 19, 2009, before 9:30 a.m. ET. At 11:00 a.m. ET that day, Carol Meyrowitz, President and Chief Executive Officer, TJX, will hold a conference call with stock analysts to discuss the Company’s first quarter Fiscal 2010 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 (866) 367-5577 through Tuesday, May 26, 2009.

Important Information at Website

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. The Company routinely posts information that may be important to investors in the Investor Information section at www.tjx.com. The Company encourages investors to consult that section of its website regularly.

Forward-looking Statement

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: conditions of global economies and credit and financial markets; foreign currency exchange rates; execution of buying and inventory management; expansion of operations; identification of customer trends and preferences; fluctuation in results; risks of new market/category expansion; implementation of marketing, advertising and promotional programs; losses from and consequences of computer intrusion(s); seasonal influences; risks of operating large, multi-division, multi-national business; unseasonable weather; competition; retention of personnel; acquisitions and divestitures; operation and implementation of information systems and technology; protection of data; level of cash flows generated; factors affecting consumer spending; merchandise quality and safety; import risks; risks of foreign operations; changes in law and regulations; outcomes of litigation and proceedings; risks of real estate ownership and leasing; stock price fluctuations 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.