The TJX Companies, Inc. Reports March 2013 Sales
FRAMINGHAM, Mass.--(BUSINESS WIRE)-- The TJX Companies, Inc. (NYS: TJX) today reported March 2013 sales results. Sales for the five-week period ended April 6, 2013, were $2.4 billion, up 5% over the $2.3 billion achieved during the five-week period ended March 31, 2012. For the nine-week period ended April 6, 2013, sales reached $4.2 billion, a 6% increase over the $4.0 billion achieved during the nine-week period ended March 31, 2012. Consolidated comparable store sales for the five-week period ended April 6, 2013, were down 2%. For the nine-week period ended April 6, 2013, consolidated comparable store sales decreased 1%.
Carol Meyrowitz, Chief Executive Officer of The TJX Companies, Inc., stated, "Due to the year-over-year timing of Easter, we had not planned March to be a strong month against last year's high increase, and our comparable store sales were in line with our expected range. This was despite the extraordinarily cold weather across most regions in the U.S., Canada and Europe. In regions of the U.S. where weather was not an issue, we saw comp sales increases. Further, overall business trends improved as the weather became warmer. For the first quarter, even with March sales at the low end of our expected range, merchandise margins are on track to be better than last year and we are narrowing the range of our earnings per share guidance to $.60-$.62. It is worth noting that this represents a very solid increase over last year's first quarter, which had the highest EPS growth of that year. April is off to a good start, our inventories are in great shape, and we are seeing an enormous amount of desirable product in the marketplace."
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 1,044 T.J. Maxx, 909 Marshalls, 423 HomeGoods and 4 Sierra Trading Post stores as well as SierraTradingPost.com in the United States; 225 Winners, 89 HomeSense, and 21 Marshalls stores in Canada; and 348 T.K. Maxx and 24 HomeSense stores in Europe. TJX's press releases and financial information are also available at www.tjx.com.
March and April 2013 Sales Recorded Calls
A recorded message with more detailed information regarding TJX's March 2013 sales, operations and business trends is available at www.tjx.com, or by calling (703) 736-7248 through Thursday, April 18, 2013. The Company expects to release its April 2013 sales on Thursday, May 9, 2013, at approximately 8:15 a.m. ET. Concurrent with that press release, a recorded message with more detailed information regarding TJX's April sales, operations and business trends will be available at www.tjx.com, or by calling (703) 736-7248 through Thursday, May 16, 2013. As a reminder, after the April sales release, the Company will no longer report monthly sales and move to a quarterly reporting schedule. The Company believes that this is the right practice for TJX and its shareholders, reflecting the long-term approach it takes in planning and running its business.
First Quarter Fiscal 2014 Conference Call
Additionally, the Company expects to release its first quarter earnings on Tuesday, May 21, 2013, 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 first quarter Fiscal 2014 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 28, 2013.
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: execution of buying strategy 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 and costs of labor; global economic conditions and consumer spending; data security; information systems and new technology; seasonal influences; adverse or unseasonable weather; serious disruptions and catastrophic events; corporate and banner reputation; merchandise quality and safety; expanding international operations; merchandise importing; commodity pricing; fluctuations in currency exchange rates; fluctuations in quarterly operating results and market expectations; acquisitions, business investments 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
KEYWORDS: United States North America Massachusetts
The article The TJX Companies, Inc. Reports March 2013 Sales originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.