UPDATE: The TJX Companies, Inc. Reports 8% May 2012 Comp Sales Increase; Updates Q2 Outlook

The TJX Companies, Inc. (NYSE: TJX) today reported May 2012 sales results. Sales for the four-week period ended May 26, 2012, were $1.9 billion, up 10% over the $1.7 billion achieved during the four-week period ended May 28, 2011. For the 17-week period ended May 26, 2012, sales reached $7.7 billion, an 11% increase over the $6.9 billion achieved in the same period last year. Consolidated comparable store sales for the four-week period ended May 26, 2012 increased 8% over last year. For the 17-week, year-to-date period, consolidated comparable store sales also increased 8% over the same period last year. Carol Meyrowitz, Chief Executive Officer of The TJX Companies, Inc., stated, “The second quarter is off to a great start as our momentum continued in May. Comparable store sales increased 8% both on a consolidated basis and at The Marmaxx Group, our largest division, as the second half of the month exceeded our expectations. We were particularly pleased to see all of our businesses across the U.S., Canada and Europe continue to post such consistent, strong performance. Once again, customer traffic was up significantly at every division which we believe speaks to the power of our values, brands and fashions. With above-plan sales in May, we now expect second quarter earnings per share to be at the high end of our previously estimated range of $.47 - $.50. We remain very well positioned to buy into the exciting opportunities we are seeing in the marketplace and offer consumers great brands and fashions at tremendous value.”