The TJX Companies, Inc. Reports Above-Plan April 2009 Sales; Raises First Quarter Outlook
FRAMINGHAM, Mass.--(BUSINESS WIRE)--The TJX Companies, Inc. (NYSE: TJX) today reported April 2009 sales results. Sales for the four-week period ended May 2, 2009, were $1.43 billion, up 1% over the $1.41 billion achieved during the four-week period ended May 3, 2008. For the 13 weeks ended May 2, 2009, sales reached $4.35 billion, up 1% over the $4.31 billion achieved during last year’s fiscal first quarter. Total sales for both 2009 periods were adversely impacted by foreign currency exchange rates. Consolidated comparable store sales were up 3% for the four-week period ended May 2, 2009 versus last year. For the 13-week, year-to-date period, consolidated comparable store sales increased 2% over last year.
Carol Meyrowitz, President and Chief Executive Officer of The TJX Companies, Inc., stated, “We are very pleased that customer traffic has continued to increase significantly across virtually all of our brands, which led to April comparable store sales increasing by 3%, above our expectations. This was achieved on top of strong performance last year and despite one less selling day in April this year due to the Easter calendar shift. We attribute the strength in our business to the extreme value that we are offering customers on rapidly turning assortments of great brand names and fashions. We believe favorable weather also helped boost sales. While we are pleased that our performance has been above our expectations, allowing us to raise our first quarter earnings estimates, the economic environment remains uncertain; we remain cautious in our near term outlook while staying sharply focused on the execution of the strategies we have in place to meet these challenging times.”
With above-plan sales in April following February and March sales which also exceeded plan, as well as strong merchandise margins, the Company now expects Fiscal 2010 first quarter earnings per share from continuing operations to be $.47 to $.49, which is above its most recent guidance.
The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. The Company operates 882 T.J. Maxx, 809 Marshalls, 322 HomeGoods, and 140 A.J. Wright stores in the United States. In Canada, the Company operates 203 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.
April and May Fiscal 2010 Sales Recorded Calls
A recorded message with more detailed information regarding TJX’s April 2009 sales results, operations and business trends is available via the Internet at www.tjx.com, or by calling (703) 736-7248 through Thursday, May 14, 2009. The Company expects to release its May 2009 sales results on Thursday, June 4, 2009, at approximately 8:15 a.m. ET. 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 via the Internet at www.tjx.com, or by calling (703) 736-7248 through Thursday, June 11, 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.
