Financial News

The TJX Companies, Inc. Reports April 2007 Sales

The TJX Companies, Inc. (NYSE: TJX) today reported April 2007 sales results. Sales for the four-week period ended May 5, 2007, were $1.28 billion, up 2% over the $1.26 billion achieved during the four-week period ended May 6, 2006. For the thirteen weeks ended May 5, 2007, sales reached $4.2 billion, a 7% increase over last years $3.9 billion. Consolidated comparable store sales for the four-week period ended May 5, 2007, decreased 1% versus last year.

Carol Meyrowitz, President and Chief Executive Officer of The TJX Companies, Inc., stated, Comparable store sales results in April were below our expectations, which we attribute to the unseasonably cold and wet weather across most regions of the country during the first half of the month. That said, when the weather warmed up during the second half of the month, customer demand for spring apparel accelerated significantly and comparable store sales ran ahead of our plan. Furthermore, despite Aprils unseasonable weather, comparable store sales for the combined March/April period, which includes the Easter holiday, were up 3%, which was in line with our plans.

The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. The Company operates 830 T.J. Maxx, 763 Marshalls, 271 HomeGoods, and 127 A.J. Wright stores, as well as 35 Bobs Stores, in the United States. In Canada, the Company operates 186 Winners and 70 HomeSense stores, and in Europe, 211 T.K. Maxx stores. TJXs press releases and financial information are also available on the Internet at www.tjx.com.

April and May Fiscal 2008 Recorded Calls

A recorded message with more detailed information regarding TJXs April 2007 sales results, operations and business trends is available via the Internet at www.tjx.com, or by calling (703) 736-7248 through Thursday, May 17, 2007. The Company expects to release its May 2007 sales results on Thursday, June 7, 2007, at approximately 8:15 a.m. ET. Concurrent with that press release, a recorded message with more detailed information regarding TJXs 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 14, 2007.

First Quarter Fiscal 2008 Conference Call

Additionally, the Company expects to release its first quarter earnings on Tuesday, May 15, 2007, before 9:30 a.m. ET. At 11:00 a.m. ET that day, Carol Meyrowitz, President and Chief Executive Officer of TJX, will hold a conference call with stock analysts to discuss the Companys first quarter fiscal 2008 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) 367-5577 through Tuesday, May 22, 2007.

Archived versions of the Companys 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: the results and effects of the intrusion or intrusions into our computer system including the outcome of our investigation, the extent of customer information compromised and consequences to our business including effects on sales and liabilities and costs in connection with this intrusion; our ability to successfully expand our store base and increase same store sales; risks of expansion and costs of contraction; 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; our ability to execute the share repurchase program; 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; adequacy of reserves; 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.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.

Use the myMotherLode.com Keyword Search to go straight to a specific page

Popular Pages

  • Local News
  • US News
  • Weather
  • State News
  • Events
  • Traffic
  • Sports
  • Dining Guide
  • Real Estate
  • Classifieds
  • Financial News
  • Fire Info
Feedback