The TJX Companies, Inc. (NYSE: TJX) today reported October 2012 sales results. Sales for the four-week period ended October 27, 2012, were $2.1 billion, up 11% over the $1.9 billion achieved during the four-week period ended October 29, 2011. For the 39-week period ended October 27, 2012, sales reached $18.2 billion, a 10% increase over the $16.5 billion achieved in the same period last year. Consolidated comparable store sales for the four-week period ended October 27, 2012, increased 7% over last year. For the 13-week third quarter, consolidated comparable store sales also increased 7% over last year. For the 39-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 consolidated comp increase of 7%, which demonstrates once again our ability to deliver strong comp sales increases over strong increases in the prior year. Our momentum continued at all divisions and customer traffic drove comp increases across the board, which we believe speaks to the staying power and appeal of our great brands and fashions at compelling values. We were particularly pleased with TJX Europe’s 11% comp sales increase, achieved over a 5% increase last year, as we continue to see increasingly strong trends in this important growth vehicle. With above-plan sales in October, we are raising our outlook for the third quarter and full year. We believe the momentum we are seeing in all of our businesses, along with the exciting gift initiatives and marketing campaigns that we have planned, bode well for the holiday selling season. We are looking forward to a strong fourth quarter as well as to the longer term future growth of our Company.”
Updated Third Quarter and Full Year Fiscal 2013 Guidance
The Company is raising its earnings per share guidance for the third quarter of Fiscal 2013 to be approximately $.61 and for the full year Fiscal 2013, to be in the range of $2.44 - $2.47. This guidance includes the previously discussed estimated $.02 per share non-cash, one-time charge in the Company’s Fiscal 2013 third quarter for the cumulative impact of a correction to its pension accrual for prior fiscal years.
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