The TJX Cos. sales for the five-week period ended October 3, were $2.0 billion, up 8% over the $1.8 billion a year earlier. Comparable store sales increased 7%.
For the 35 weeks ended October 3, 2009, sales reached $12.6 billion, up 4% over the $12.2 billion achieved during the 35-week period last year. For the 35-week, year-to-date period, consolidated comparable store sales increased 4% compared to last year.
Carol Meyrowitz, president and chief executive officer, stated, “Our consolidated comparable store sales increase of 7% significantly exceeded our expectations. We saw strong trends continue in September and customer traffic counts accelerated beyond their already high levels. We believe our great values on great brands are resonating with our loyal customer base and attracting new customers. Seasonably cool temperatures in parts of the U.S. during the month likely helped drive customers to shop for fall merchandise. With above-plan sales in August and September, strong momentum in our business and greater visibility into future trends, we are raising our outlook for the third and fourth quarters. We continue to see an abundance of exciting brands and merchandise in the marketplace, which will enable us to flow fresh, exciting assortments of gift merchandise throughout the holiday season.”
Updated Third Quarter Fiscal 2010 Guidance
The company now expects third quarter Fiscal 2010 diluted earnings per share from continuing operations to be in the range of $.71 to $.74, compared with $.58 in reported earnings per share from continuing operations in the prior year. This range is based upon a raised expectation for October consolidated comparable store sales to an increase of 5% to 6%. It is important to note that comparisons of projected third quarter results to prior year are impacted by a non-operating item last year and foreign currency exchange rates.
Updated Fourth Quarter Fiscal 2010 Guidance
The company now expects fourth quarter Fiscal 2010 diluted earnings per share from continuing operations to be in the range of $.60 to $.66, compared with $.58 in reported earnings per share from continuing operations in the prior year. This range is based upon a raised expectation for fourth quarter consolidated comparable store sales to an increase of 3% to 5%. It is important to note that comparisons of projected fourth quarter results to prior year are impacted by the benefit from the extra week in the company’s Fiscal 2009 calendar, a non-operating item, and foreign currency exchange rates
