This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

The TJX Companies, Inc. Reports Strong 6% September 2012 Comp Sales Increase; Updates Third Quarter FY13 Outlook

Stocks in this article: TJX

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.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs