Financial News

The TJX Companies, Inc. Reports December 2007 Sales; Raises Fourth Quarter Outlook

The TJX Companies, Inc. (NYSE: TJX) today reported December 2007 sales results. Sales for the five-week period ended January 5, 2008, were $2.5 billion, up 6% over the $2.3 billion achieved during the five-week period ended January 6, 2007. For the 48 weeks ended January 5, 2008, sales reached $17.5 billion, a 7% increase over last years $16.4 billion. Consolidated comparable store sales for the five-week period ended January 5, 2008, increased 3% over last year. For the 48-week period ended January 5, 2008, consolidated comparable store sales increased 4% over last year.

Carol Meyrowitz, President and Chief Executive Officer of The TJX Companies, Inc., stated, We are pleased that our December comparable store sales increase of 3% was in line with our expectations. We achieved these results in a challenging consumer environment and over strong performance last year. Effective execution of our flexible off-price business model continued to pay dividends, as we were extremely disciplined in managing our inventories and controlling expenses, which led to very strong gross profit margins. With above-plan November sales and Decembers strong margin performance, we are raising our outlook for fourth quarter earnings per share from continuing operations to the range of $.60 -$.63. With great liquidity in our inventories, we are in an excellent position to take advantage of buying opportunities in the marketplace in January and into the spring selling season.

The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. The Company operates 853 T.J. Maxx, 778 Marshalls, 289 HomeGoods, and 131 A.J. Wright stores, as well as 34 Bobs Stores, in the United States. In Canada, the Company operates 191 Winners and 71 HomeSense stores, and in Europe, 226 T.K. Maxx stores. TJXs press releases and financial information are also available on the Internet at www.tjx.com.

A recorded message with more detailed information regarding TJXs December 2007 sales results, operations and business trends is available via the Internet at www.tjx.com, or by calling (703) 736-7248 through Thursday, January 17, 2008. The Company expects to release its January 2008 sales results on Thursday, February 7, 2008, at approximately 8:15 a.m. ET. Concurrent with that press release, a recorded message with more detailed information regarding TJXs January sales results, operations and business trends will be available via the Internet at www.tjx.com, or by calling (703) 736-7248 through Thursday, February 14, 2008. 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 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 losses and expenses we may incur (which may be different from the amount we reserved and estimated and which differences may be material) and consequences to our business (including potential effects on our reputation and our sales) and to the value of our company and related value of our stock; the terms and completion of the settlement of the customer class actions; 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.

Contacts:

The TJX Companies, Inc.
Sherry Lang
Senior Vice President
Investor and Public Relations
(508) 390-2323

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