The TJX Companies, Inc. reported that sales for the four-week period ended November 27, 2004, were $1.4 billion, up 10% over $1.3 billion achieved during the four-week period ended November 29, 2003. Consolidated comparable store sales for the four-week period ended November 27, 2004, increased 2% over last year.
For the 43 weeks ended November 27, 2004, sales reached $12.0 billion, a 13% increase over last year’s $10.6 billion. For the 43-week, year-to-date period, consolidated comparable store sales increased 4% over last year.
Edmond J. English, President and Chief Executive Officer of The TJX Companies, Inc., stated, “Our November comparable store sales increase of 2% was below our expectations. However, we believe we have significant opportunities to make up for the November shortfall to plan with a very strong performance in December, supported by our expanded departments in jewelry, accessories and footwear, two additional pre-Christmas shopping days this year, and the adverse impact of weather on last year’s results. Since December is such an important month to the fourth quarter, we are waiting until we report December sales to update our earnings expectations for the quarter. As we proceed through the month, we will be flowing fresh gift assortments to our off-price stores at great values right up until the Christmas holiday, a strategy that we believe will serve us well again this year, as it differentiates our concepts from other gift destinations.”
Separately, the Company reported today that Lisa Panattoni has resigned as Senior Vice President, Merchandising and Marketing, of HomeGoods. Alex Smith, Senior Executive Vice President and Group President, TJX, will work closely with the recently appointed HomeGoods team of Robert Cataldo, Chief Operating Officer, and Nan Stutz, Senior Vice President, Merchandising, in overseeing the day-to-day operations of this division.
