The TJX Companies, Inc. reported consolidated comparable store sales for the four-week period ended February 2, 2008, increased 3% over last year. Total sales increased 7% to $1.13 billion from $1.06 billion.
For the 52 weeks ended February 2, 2008, sales reached $18.7 billion, a 7% increase over last years $17.4 billion.
Carol Meyrowitz, president and CEO of The TJX Companies, Inc., stated, “Our consolidated comparable store sales increase of 3% in January was just below our expectations and was achieved on top of a 4% increase last year. Once again, we were extremely disciplined in managing our inventories and expenses, which allowed us to maintain very strong profit margins. We now expect fourth quarter earnings per share from continuing operations to be near the high end of our previously anticipated range of $.60 – $.63. We enter the spring selling season in an excellent position to drive sales, with great liquidity in our inventories. Further, we will continue to focus on inventory and expense management to deliver strong profit growth in a challenging retail environment.”
Carol Meyrowitz, president and CEO of The TJX Companies, Inc., stated, “Our consolidated comparable store sales increase of 3% in January was just below our expectations and was achieved on top of a 4% increase last year. Once again, we were extremely disciplined in managing our inventories and expenses, which allowed us to maintain very strong profit margins. We now expect fourth quarter earnings per share from continuing operations to be near the high end of our previously anticipated range of $.60 – $.63. We enter the spring selling season in an excellent position to drive sales, with great liquidity in our inventories. Further, we will continue to focus on inventory and expense management to deliver strong profit growth in a challenging retail environment.”
