The TJX Companies, Inc. reported sales for the five-week period ended March 31 were $2.3 billion, up 14 percent over the $2.0 billion achieved during the five-week period ended April 2, 2011.
“I am extremely pleased that our momentum continued in March, leading to a well-above-plan consolidated comparable store sales increase of 10 percent and strong increases in all of our businesses in the U.S., Canada, and Europe,” said CEO Carol Meyrowitz. “Importantly, March comp sales increases were driven by substantial increases in customer traffic as our merchandising continues to be on point with a terrific mix of exciting fashion and brands at excellent values. While unusually warm weather was a positive in the month, sales were also strong in regions where the weather is typically warm. With above-plan sales and strong flow-through to the bottom line, we are raising our first quarter Fiscal 2013 outlook for earnings per share to 51-52 cents versus the previous range of 45 to 47 cents. Further, we now expect full year Fiscal 2013 earnings per share to be in the range of $2.25-$2.35. We are looking forward to the remainder of the quarter and believe our stores offer a compelling shopping experience that will continue to resonate with consumers.”