TJX Companies Inc. (TJX) April 05, 2012 12:00 am ET Executives Sherry Lang - Senior Vice President of Global Communications Presentation Sherry Lang
It's important to note that along with our above-plan sales, there was strong flowthrough to the bottom line. Therefore, we are raising our first quarter fiscal 2013 estimated EPS range to $0.51 to $0.52 from the previous range of $0.45 to $0.47. Further, we now expect earnings per share for the full fiscal year 2013 to be in the range of $2.25 to $2.35.Now divisional comp store sales for March were as follows. Beginning with our U.S. divisions. At the Marmaxx Group, comp store sales increased by 10% in March, which again was well above plan. I will go into further detail on Marmaxx in a moment. At HomeGoods, comp store sales increase by a strong 6% in March, over a 7% increase last year. We are particularly pleased with HomeGoods performance in March in light of the warm weather, which as I will discuss in a moment, helped apparel to outperform home at Marmaxx. Now to TJX Canada. At Winners and HomeSense combined, comp store sales for March increased 8% over last year. We're pleased to see strong trends continued in our Canadian business. Moving to TJX Europe. At T.K. Maxx and HomeSense combined, comp store sales increased by a very strong 17% in March. We're delighted to see that customer traffic is way up and all of our European markets are performing well. To give some additional color to March's result at the Marmaxx Group, geographically, as I've mentioned, we saw strength across the country. The Northeast and Midwest outperformed the chain. The Southeast was in line with the chain. Florida and the Southwest were slightly below the chain. The West Coast, where weather was less of a factor, was quite solid but trailed the chain's average. As to merchandise categories at Marmaxx, apparel comped up 12% and Home Fashions comped up 1% in March. This points to the positive impact of the warm weather on spring apparel.
Summing up, we are looking forward to the remainder of the spring selling season and continue to believe our stores are shopping destinations with great customer appeal across the U.S., in Canada and in our European markets. To recap guidance, we are raising our outlook for first quarter fiscal 2013 estimated EPS to be in the range of $0.51 to $0.52. We now expect full year EPS for fiscal 2013 to be in the range of $2.25 to $2.35. Our first quarter guidance continues to be based on a comp sales assumption in April of flat to up 2% on both a consolidated basis and at the Marmaxx Group. We will be reporting April sales on May 3, 2012. [Operator Instructions] Thank you, and have a good day.Read the rest of this transcript for free on seekingalpha.com