The TJX Companies, Inc. Reports Strong 6% September 2012 Comp Sales Increase; Updates Third Quarter
The TJX Companies, Inc. Reports Strong 6% September 2012 Comp Sales Increase; Updates Third Quarter FY13 Outlook
FRAMINGHAM, Mass.--(BUSINESS WIRE)-- The TJX Companies, Inc. (NYSE: TJX) today reported September 2012 sales results. Sales for the five-week period ended September 29, 2012, were $2.5 billion, up 10% over the $2.2 billion achieved during the five-week period ended October 1, 2011. For the 35-week period ended September 29, 2012, sales reached $16.1 billion, a 10% increase over the $14.6 billion achieved in the same period last year. Consolidated comparable store sales for the five-week period ended September 29, 2012, increased 6% over a 4% increase last year. For the 35-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 6% consolidated comp store sales increase in September as it demonstrates our continued ability to post strong comp sales increases on top of strong increases in the previous year. Customer traffic continued as the driver of our comp sales increases at every division, a good indication that our value proposition of great brands and fashions at amazing prices continues to resonate with consumers. Marmaxx also achieved a strong 6% comp sales increase and all divisions delivered excellent performance. We are particularly happy with business at TJX Europe, where comp sales increased 13%. Our results in Europe represent consistently good performance and an increasingly strong trend, which underscore our confidence in our European growth opportunity. It's important to note that we ended the month with great momentum across the board, which bodes well for the rest of the fall as well as the 2012 holiday selling season, which we believe will be terrific for TJX!"
With above-plan sales in September, the Company would have raised its EPS outlook for the third quarter. However, the Company also announced that it now estimates that it will record a $.02 per share non-cash, one-time charge in its Fiscal 2013 third quarter for the cumulative impact of a correction to its pension accrual for prior fiscal years. As a result of this previously unanticipated charge, the Company is maintaining its previous guidance for third quarter earnings per share to be near the high end of the range of $.56 - $.59.
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 1,018 T.J. Maxx, 904 Marshalls, and 409 HomeGoods stores in the United States; 222 Winners, 87 HomeSense, and 13 Marshalls stores in Canada; and 341 T.K. Maxx and 24 HomeSense stores in Europe. TJX's press releases and financial information are also available at www.tjx.com.
September and October 2012 Sales Recorded Calls
A recorded message with more detailed information regarding TJX's September 2012 sales, operations and business trends is available at www.tjx.com, or by calling (703) 736-7248 through Thursday, October 11, 2012. The Company expects to release its October 2012 sales on Thursday, November 1, 2012, at approximately 8:15 a.m. ET. Concurrent with that press release, a recorded message with more detailed information regarding TJX's October sales, operations and business trends will be available at www.tjx.com, or by calling (703) 736-7248 through Thursday, November 8, 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
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