The TJX Companies, Inc. Reports Strong 7% October 2012 Comp Sales Increase; Raises Third Quarter and Full-Year Guidance
The TJX Companies, Inc. (NYSE: TJX) today reported October 2012 sales results. Sales for the four-week period ended October 27, 2012, were $2.1 billion, up 11% over the $1.9 billion achieved during the four-week period ended October 29, 2011. For the 39-week period ended October 27, 2012, sales reached $18.2 billion, a 10% increase over the $16.5 billion achieved in the same period last year. Consolidated comparable store sales for the four-week period ended October 27, 2012, increased 7% over last year. For the 13-week third quarter, consolidated comparable store sales also increased 7% over last year. For the 39-week, year-to-date period, consolidated comparable store sales increased 8% over the same period last year.
Carol Meyrowitz, Chief Executive Officer of The TJX Companies, Inc., stated, “We are extremely pleased with our well-above-plan consolidated comp increase of 7%, which demonstrates once again our ability to deliver strong comp sales increases over strong increases in the prior year. Our momentum continued at all divisions and customer traffic drove comp increases across the board, which we believe speaks to the staying power and appeal of our great brands and fashions at compelling values. We were particularly pleased with TJX Europe's 11% comp sales increase, achieved over a 5% increase last year, as we continue to see increasingly strong trends in this important growth vehicle. With above-plan sales in October, we are raising our outlook for the third quarter and full year. We believe the momentum we are seeing in all of our businesses, along with the exciting gift initiatives and marketing campaigns that we have planned, bode well for the holiday selling season. We are looking forward to a strong fourth quarter as well as to the longer term future growth of our Company.”
Updated Third Quarter and Full Year Fiscal 2013 Guidance
The Company is raising its earnings per share guidance for the third quarter of Fiscal 2013 to be approximately $.61 and for the full year Fiscal 2013, to be in the range of $2.44 - $2.47. This guidance includes the previously discussed estimated $.02 per share non-cash, one-time charge in the Company's Fiscal 2013 third quarter for the cumulative impact of a correction to its pension accrual for prior fiscal years.
About The TJX Companies, Inc.
The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. The Company operates 1,030 T.J. Maxx, 911 Marshalls, and 414 HomeGoods stores in the United States; 222 Winners, 88 HomeSense, and 14 Marshalls stores in Canada; and 343 T.K. Maxx and 24 HomeSense stores in Europe. TJX's press releases and financial information are also available at www.tjx.com.
October and November 2012 Sales Recorded Calls
A recorded message with more detailed information regarding TJX's October 2012 sales, operations and business trends is available at www.tjx.com, or by calling (703) 736-7248 through Thursday, November 8, 2012. The Company expects to release its November 2012 sales on Thursday, November 29, 2012, at approximately 8:15 a.m. ET. Concurrent with that press release, a recorded message with more detailed information regarding TJX's November sales, operations and business trends will be available at www.tjx.com, or by calling (703) 736-7248 through Thursday, December 6, 2012.
Third Quarter Fiscal 2013 Conference Call
Additionally, the Company expects to release its third quarter earnings on Tuesday, November 13, 2012, before 9:30 a.m. ET. At 11:00 a.m. ET that day, Carol Meyrowitz, TJX's Chief Executive Officer, will hold a conference call with stock analysts to discuss the Company's third quarter Fiscal 2013 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, November 20, 2012.
Important Information at Website
The Company's recorded messages and conference calls are available at www.tjx.com after they are no longer available by telephone. The Company routinely posts information that may be important to investors in the Investor Information section at www.tjx.com. The Company encourages investors to consult that section of its website regularly.
SAFE HARBOR STATEMENT 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: buying and inventory management; operational expansion and management of large size and scale; customer trends and preferences; market, banner, geographic and category expansion; marketing, advertising and promotional programs; competition; personnel recruitment and retention; global economic conditions and consumer spending; data security; information systems and technology; seasonal influences; adverse or unseasonable weather; serious disruptions and catastrophic events; corporate and banner reputation; merchandise quality and safety; international operations; merchandise importing; commodity pricing; foreign currency exchange rates; fluctuations in quarterly operating results; market expectations; acquisitions and divestitures; compliance with laws, regulations and orders; changes in laws and regulations; outcomes of litigation, legal matters and proceedings; tax matters; real estate activities; cash flow 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.
The TJX Companies, Inc.
Senior Vice President