The Fiscal 2012 first quarter included costs associated with the A.J. Wright consolidation, primarily additional lease obligations for store closings and additional operating losses as well as the costs related to the conversion and grand re-opening of certain former A.J. Wright stores to T.J. Maxx, Marshalls and HomeGoods banners.

On a reported basis, fully diluted earnings per share for the Fiscal 2013 first quarter were $.55 compared to $.34 last year. Excluding the items detailed above, adjusted diluted earnings per share for the Fiscal 2013 first quarter represented a 41% increase over last year’s adjusted $.39.

Foreign currency exchange rates also impacted the comparability of first quarter earnings per share to the prior year. The overall net impact of foreign currency exchange rates had a $.01 per share negative impact on first quarter Fiscal 2013 earnings per share, which was not contemplated in the Company’s original guidance, compared with a $.02 per share negative impact last year.

To provide investors information to assist them in assessing the Company’s ongoing operations on a comparable basis, the Company is providing financial measures that exclude the items detailed above. Throughout this release, the term “reported” refers to information prepared in accordance with accounting principles generally accepted in the United States (GAAP), while the term “adjusted” refers to non-GAAP financial information adjusted to exclude the impact of these items as applicable. Adjusted financial information, along with reconciliations of this information to financial information prepared under GAAP, is available in the Investor Information section of the Company’s website, www.tjx.com.

Margins

For the first quarter of Fiscal 2013, the Company’s consolidated pretax profit margin was 11.8%, up 2.2 percentage points over the prior year’s adjusted margin. The increase was primarily driven by improved gross profit margins as well as selling, general and administrative cost leverage on the above-plan comparable store sales increase. In addition, foreign currency exchange rates had a 0.4 percentage point positive impact on year-over-year comparisons.

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