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The TJX Companies, Inc. Reports Above-Plan January 2013 Comp Sales; Further Raises Fourth Quarter And Full Year EPS Outlook

Stocks in this article: TJX

The TJX Companies, Inc. (NYSE: TJX) today reported January 2013 sales results. Sales for the five-week fiscal period ended February 2, 2013, were $1.9 billion compared with the $1.4 billion achieved during the four-week period ended January 28, 2012. For the 53-week fiscal year ended February 2, 2013, sales reached $25.9 billion, a 12% increase over the $23.2 billion achieved during the 52-week fiscal year ended January 28, 2012.

Consolidated comparable store sales for the four-week period ended January 26, 2013, increased 3% over a 7% increase achieved in the comparable four-week period ended January 28, 2012. For the 13-week period ended January 26, 2013, fourth quarter consolidated comparable store sales increased 4% over the same period last year. For the 52-week, year-to-date period ended January 26, 2013, consolidated comparable store sales increased 7% over the same period last year.

Carol Meyrowitz, Chief Executive Officer of The TJX Companies, Inc., stated, “We are very pleased with our 3% consolidated comparable store sales increase in January, which was above our plan and achieved over 7% growth last year. Customer traffic once again drove this month’s comp increases across the board, as consumers continue to be drawn to our great values on great fashions and brands. With strong sales and margins in January, we are once again raising our outlook for fourth quarter earnings per share to be approximately $.80-$.81, a 29%-31% increase over last year. For the full year, we are raising our guidance for earnings per share to be approximately $2.53-$2.54, which would represent 25-plus percent growth over the prior year for our $25 billion-plus Company. As we begin a new fiscal year and transition into spring, our merchandise mix is extremely fresh and we are confident we will continue to attract more U.S. and international customers with our tremendous values.”

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