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The TJX Companies, Inc. Sees Momentum Continue; Reports 24% Increase In Second Quarter EPS; Raises Full-Year Guidance

Sales by Business Segment

The Company’s comparable store sales and net sales by division, in the second quarter, were as follows:

       

Second Quarter

 

Second Quarter

Comparable Store Sales 1

 

Net Sales ($ in millions) 2,3

    FY2013   FY2012   FY2013   FY2012
In the U.S.:                

Marmaxx 4

  +7%   +5%   $3,976   $3,654
HomeGoods   +9%   +3%   $598   $515
International:                
TJX Canada   +5%   -3%   $661   $638
TJX Europe   +10%   0%   $711   $662
                 
TJX   +7%   +4%   $5,946   $5,468

1Comparable store sales outside the U.S. calculated on a constant currency basis, which removes the effect of changes in currency exchange rates. 2Sales in Canada and Europe were impacted by foreign currency exchange rates. See below. 3Figures may not foot due to rounding. 4Combination of T.J. Maxx and Marshalls.

Impact of Foreign Currency Exchange Rates

Changes in foreign currency exchange rates affect the translation of sales and earnings of the Company’s international businesses into U.S. dollars for financial reporting purposes. In addition, ordinary-course inventory-related hedging instruments are marked to market at the end of each quarter. Changes in currency exchange rates affect the magnitude of these translations and adjustments, and can have a material impact when there is significant volatility in currency exchange rates.

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