The TJX Companies, Inc. reported sales for the five-week period ended April 3, 2010, were $2.0 billion, up 19% over the $1.7 billion achieved during the five-week period ended April 4, 2009. For the nine-week period ended April 3, 2010, sales reached $3.4 billion, an 18% increase over the $2.9 billion achieved in the same period last year.
Carol Meyrowitz, President and Chief Executive Officer of The TJX Companies, Inc., stated, Our 12% comparable store sales increase in March significantly exceeded our expectations. The Marmaxx Group drove a comparable store sales increase of 14%, also well above our plan, and all of our businesses are performing very well. I am particularly pleased as these results were achieved against year-over-year comparisons that were more challenging than most other retailers faced. Our continued acceleration of traffic, which we believe punctuates our belief that consumers will remain focused on value even as the economy improves, along with our great brands and great fashions, drove this strong performance. Additionally, we believe that favorable spring weather and the shift of pre-Easter sales into March further boosted sales. With above-plan sales and strong merchandise margins for the first two months of the quarter, we are significantly raising our guidance for first quarter earnings per share from continuing operations to the range of 76 cents 79 cents. With our continued positive momentum, compelling value proposition, extremely flexible business model, and wide customer demographic reach, we believe we are extremely well positioned for continued success.
For the first quarter of fiscal 2011, the companys raised guidance of 76 cents to 79 cents in earnings per share from continuing operations would represent an increase of 55%-61% over 49 cents last year. This range is based upon a raised expectation for first quarter consolidated comparable store sales growth of 8%-9%. With this updated outlook for the first quarter, the company is raising its guidance for full year Fiscal 2011 earnings per share from continuing operations to the range of $3.17-$3.31, up 12%-17% over $2.84 in fiscal 2010.
