The TJX Companies, Inc., whose stores include T.J. Maxx and Marshalls specialize in selling closeout apparel, reported sales for the four-week period ended May 29, 2010 reached $1.6 billion, up 8% over the $1.5 billion achieved during the four-week period ended May 30, 2009.
For the 17-week period ended May 29, 2010, sales reached $6.6 billion, a 13% increase over the $5.8 billion achieved in the same period last year.
Consolidated comparable store sales for the four-week period ended May 29, 2010, increased 4% over the same period last year. For the 17-week, year-to-date period, consolidated comparable store sales increased 8% over the same period last year.
“Our 4% consolidated comparable store sales increase in May was above our expectations and achieved on top of a very solid 5% increase last year,” said Carol Meyrowitz, president and CEO of The TJX Companies, Inc. “We saw sales pick up substantially in the second half of the month as the weather turned warmer, which helped us achieve our above-plan performance.
“At The Marmaxx Group, where comp sales increased by 3% across the chain, the Northeast was our strongest region which we believe speaks to the correlation of the warmer weather and apparel sales. We are pleased that customer transactions continued to increase significantly, which indicates to us that consumers will continue to gravitate toward our compelling values regardless of the economic environment. As we enter the summer selling season, we continue to run the business with extremely lean inventories and see excellent buying opportunities of great brands in the marketplace.”