The TJX Companies, Inc. today reported April 2003 sales results. Sales for the four-week period ended May 3, 2003, were $956 million, up 6% over $899 million achieved during the four-week period ended May 4, 2002. Consolidated comparable store sales for the four-week period ended May 3, 2003, were flat with last year’s 4% increase.
For the thirteen weeks ended May 3, 2003, sales reached $2,841 million, a 5% increase over last year’s $2,710 million. For the thirteen-week period ended May 3, 2003, consolidated comparable store sales decreased 2% versus a strong 7% increase last year.
Edmond English, President and Chief Executive Officer of The TJX Companies, Inc., commented, “Sales for the month of April were below our expectations. The lift in sales that we had expected from the shift of Easter to April was offset by continued, unseasonably cold weather throughout the month. Despite this shortfall in sales, merchandise margins have exceeded our goals and first quarter earnings are in line with our expectations. We have been taking advantage of the tremendous buying opportunities in the marketplace and are pleased with the exciting values that are flowing into our stores as we enter the second quarter.”
