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The TJX Companies, Inc. Reports 28% Adjusted EPS Growth On $25.9 Billion In Sales In Fiscal 2013; Announces New $1.5 Billion Stock Repurchase Program; Plans 26% Increase In Dividend

Discontinuing Monthly Sales Reporting

The Company also announced today that beginning with the Fiscal 2014 second quarter, it will no longer report monthly sales, consistent with the retail industry trend. The Company will continue its current practices through the end of the Fiscal 2014 first quarter, reporting sales for February, March and April, and move to a quarterly reporting schedule thereafter. The Company believes that this is the right practice for TJX and its shareholders, reflecting the long-term approach it takes in planning and running its business as it continues on the path to becoming a $40 billion-plus company.

Sales by Business Segment

The Company’s comparable store sales and net sales by division for the full year were as follows:
       
Full Year   Full Year
Comparable Store Sales 1   Net Sales ($ in millions) 2,3
   

FY2013(52 weeks)
 

FY2012(52 weeks)
 

FY2013(53 weeks)
 

FY2012(52 weeks)
In the U.S.:                
Marmaxx 4   +6%   +5%   $17,011   $15,368
HomeGoods   +7%   +6%   $2,657   $2,244
International:                
TJX Canada   +5%   -1%   $2,926   $2,680
TJX Europe   +10%   +2%   $3,284   $2,891
                 
TJX 5   +7%   +4%   $25,878   $23,191

1Comparable store sales outside the U.S. calculated on a constant currency basis, which removes the effect of changes in currency exchange rates. For FY2013, comparable store sales are for the 52-week period ended January 26, 2013 versus the same period in FY2012. 2Sales in Canada and Europe include the impact of foreign currency exchange rates. See below. 3Figures may not foot due to rounding. 4Combination of T.J. Maxx and Marshalls. 5FY2012 includes $9 million of net sales from the former A.J. Wright segment.

The Company’s comparable store sales and net sales by division, in the fourth quarter, were as follows:
       
Fourth Quarter   Fourth Quarter
Comparable Store Sales 1   Net Sales ($ in millions) 2,3
   

FY2013(13 weeks)
 

FY2012(13 weeks)
 

FY2013(14 weeks)
 

FY2012(13 weeks)
In the U.S.:                
Marmaxx 4   +4%   +6%   $4,985   $4,398
HomeGoods   +5%   +10%   $826   $674
International:                
TJX Canada   +3%   +3%   $856   $745
TJX Europe   +7%   +10%   $1,057   $892
                 
TJX   +4%   +7%   $7,724   $6,710

1Comparable store sales outside the U.S. calculated on a constant currency basis, which removes the effect of changes in currency exchange rates. For the Fiscal 2013 fourth quarter, comparable store sales are for the 13-week period ended January 26, 2013 versus the same period in Fiscal 2012. 2Sales in Canada and Europe include the impact of 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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