TJX reported that sales at Bob's Stores were “slightly less” than they had anticipated for the first quarter, as the 34 store unit celebrated its first anniversary quarter under the TJX umbrella by posting a 3.1% decline in total sales to $59.4 million for the period, compared to $61.4 million in the year-ago period. Bob’s had 34 stores in operation at quarter-end this year, a net gain of three stores from the same time last year.

The parent did say that bottom-line results were “in line with plan” and that they are “pleased” with the improvements in merchandise margins. Bob’s Stores posted a $6.5 million operating loss for the first quarter versus a $1.3 million profit in Q1 last year.

For TJX, total net sales for the period were $3.7 billion, an 8.9% increase over last year. Consolidated comparable store sales increased 3% on top of an 8% increase in Q1 2004. Net income declined 11.2% to $149.3 million, or 30 cents per diluted share.