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The TJX Companies, Inc. Reports 7% July 2012 Comp Sales Increase; Further Raises Second Quarter And Full Year EPS Guidance

Stocks in this article: TJX

The TJX Companies, Inc. (NYSE: TJX) today reported July 2012 sales results. Sales for the four-week period ended July 28, 2012, were $1.8 billion, up 8% over the $1.6 billion achieved during the four-week period ended July 30, 2011. For the 26-week period ended July 28, 2012, sales reached $11.8 billion, a 10% increase over the $10.7 billion achieved in the same period last year. Consolidated comparable store sales for the four-week period ended July 28, 2012 increased 7% over last year. For the 13-week second quarter, consolidated comparable store sales also increased 7% over last year. For the 26-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 very pleased to report that our strong momentum continued in July. Our consolidated comp store sales increase of 7% in the month significantly exceeded our expectations and was achieved over a 4% increase last year. Customer traffic was up substantially at all divisions and drove most of the comp increase, which we believe speaks to our on-point fashions and brands at great values and wide customer demographic appeal. With above-plan sales and strong margins in July, we now expect second quarter earnings per share to be approximately $.55, above our recently raised guidance and up significantly over last year. For the full year, we are now expecting earnings per share to be in the range of $2.38 - $2.44. We enter the third quarter in a very strong position, poised to capitalize on our many opportunities for the second half of 2012. Our inventories are in great shape, allowing us to consistently flow to our stores an exciting mix of fresh back-to-school merchandise at amazing values. This, along with our great marketing campaigns, gives us deep confidence that we will continue to fuel sales by driving customer traffic to our stores.”

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