The TJX Companies, Inc. Reports Strong October 2006 Sales; Raises Third Quarter Outlook
FRAMINGHAM, Mass.--(BUSINESS WIRE)--The TJX Companies, Inc. (NYSE: TJX) today reported October 2006 sales results. Sales for the four-week period ended October 28, 2006, were $1.5 billion, up 10% over the $1.3 billion achieved during the four-week period ended October 29, 2005. For the 39 weeks ended October 28, 2006, sales reached $12.4 billion, a 9% increase over last year’s $11.3 billion. Consolidated comparable store sales for the four-week period ended October 28, 2006, increased 5% over last year. For the 13-week third quarter, comparable store sales increased 6% over last year. For the 39-week, year-to-date period ended October 28, 2006, consolidated comparable store sales increased 4% over last year.
Ben Cammarata, Chairman and Acting Chief Executive Officer of The TJX Companies, Inc., stated, “Our consolidated comparable store sales increase of 5% in October was above our expectations and was driven by above-plan performance at The Marmaxx Group, our largest division. Our effective off-price buying led to a compelling flow of exciting, brand-name fashions to our stores, and cool weather patterns in most regions of the country also benefited us. With the strength of October’s results, we now expect third quarter earnings per share above our previously anticipated range of $.44 - $.45.”
The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. The Company operates 826 T.J. Maxx, 749 Marshalls, 270 HomeGoods, and 162 A.J. Wright stores, as well as 36 Bob’s Stores, in the United States. In Canada, the Company operates 184 Winners and 68 HomeSense stores, and in Europe, 210 T.K. Maxx stores. TJX’s press releases and financial information are also available on the Internet at www.tjx.com.
October and November Fiscal 2007 Sales Recorded Calls
A recorded message with more detailed information regarding TJX’s October 2006 sales results, operations and business trends is available via the Internet at www.tjx.com, or by calling (703) 736-7248 through Thursday, November 9, 2006. The Company expects to release its November 2006 sales results on Thursday, November 30, 2006, at approximately 8:15 a.m. ET. Concurrent with that press release, a recorded message with more detailed information regarding TJX’s November sales results, operations and business trends will be available via the Internet at www.tjx.com, or by calling (703) 736-7248 through Thursday, December 7, 2006.
Third Quarter Fiscal 2007 Earnings Conference Call
Additionally, the Company expects to release its fiscal third quarter earnings on Tuesday, November 14, 2006, before 9:30 a.m. ET. At 11:00 a.m. ET that day, Ben Cammarata, Chairman and Acting Chief Executive Officer, and Carol Meyrowitz, President of TJX, will hold a conference call with stock analysts to discuss the Company’s third quarter fiscal 2007 sales 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 (866) 386-1298 through Tuesday, November 21, 2006.
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, including projections of earnings per share and same store sales, 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 and increase same store sales; risks of expansion; our ability to successfully implement our opportunistic inventory strategies and to effectively manage our inventories; successful advertising and promotion; 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 and protect data; our ability to continue to generate adequate cash flows; availability and cost of financing; general economic conditions, including gasoline prices; 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; closing adjustments; effectiveness of internal controls; 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.
