Financial News

The TJX Companies, Inc. Reports March 2008 Sales; Updates First Quarter Outlook

The TJX Companies, Inc. (NYSE: TJX) today reported March 2008 sales results. Sales for the five-week period ended April 5, 2008, were $1.73 billion, up 2% over the $1.70 billion achieved during the five-week period ended April 7, 2007. For the nine weeks ended April 5, 2008, sales reached $3.0 billion, up 4% over the $2.9 billion achieved during the nine weeks ended April 7, 2007. Consolidated comparable store sales for the five-week period ended April 5, 2008, were flat 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, This year, the challenge of the early Easter, coupled with unseasonably cold weather, resulted in our below-plan March consolidated comparable store sales. Also, we were up against a strong 6% increase last year. That said, inventories are in excellent shape, mitigating our markdown exposure as we enter April. Our very liquid inventory position continues to enable us to buy right and at great values and keep our merchandise margins strong. We have begun to see a pick-up in sales trends in certain areas where the weather has become more seasonable and believe that our compelling values will continue to attract customers and drive our business.

The Company now expects earnings per share from continuing operations for the first quarter to be at or slightly below the low end of its previously expected range of $.40 - $.41.

The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. The Company operates 854 T.J. Maxx, 782 Marshalls, 292 HomeGoods, and 130 A.J. Wright stores, as well as 34 Bobs Stores, in the United States. In Canada, the Company operates 192 Winners and 72 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.

March and April Fiscal 2009 Sales Recorded Calls

A recorded message with more detailed information regarding TJXs March 2008 sales results, operations and business trends is available via the Internet at www.tjx.com, or by calling (703) 736-7248 through Thursday, April 17, 2008. The Company expects to release its April 2008 sales results on Thursday, May 8, 2008, at approximately 8:15 a.m. ET. Concurrent with that press release, a recorded message with more detailed information regarding TJXs 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 15, 2008.

First Quarter Fiscal 2009 Earnings Conference Call

The Company expects to release its first quarter fiscal 2009 earnings on Tuesday, May 13, 2008, 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 Companys first quarter fiscal 2009 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 20, 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: matters relating to the computer intrusion(s) including potential losses that could exceed our reserve, potential effects on our reputation and sales and other consequences to the value of our Company and related value of our stock; our ability to successfully expand our store base and increase same store sales; risks of expansion and costs of contraction; risks inherent in foreign operations; our ability to successfully implement our opportunistic buying strategies and to manage our inventories effectively; successful advertising and promotion; consumer confidence, demand, spending habits and buying preferences; effects of unseasonable weather; competitive factors; availability of store and distribution center locations on suitable terms; our ability to recruit and retain 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 our share repurchase program; availability and cost of financing; general economic conditions, including fluctuations in the price of oil; potential disruptions due to wars, natural disasters and other events beyond our control; changes in currency and exchange rates; issues with merchandise quality and safety; import risks; adverse outcomes for any significant litigation; compliance with and changes in laws and regulations and accounting rules and principles; adequacy of reserves; closing adjustments; failure to meet market expectations; 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

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