The TJX Companies June 2004 sales for the five-week period ended July 3, 2004, were $1.3 billion, up 10% over $1.2 billion achieved during the five-week period ended July 5, 2003. For the 22 weeks ended July 3, 2004, sales reached $5.8 billion, a 15% increase over last year's $5.0 billion. Consolidated comparable store sales for the five-week period ended July 3, 2004, increased 2% over last year. For the 22-week, year-to-date period, consolidated comparable store sales increased 6% over last year.
Edmond J. English, President and Chief Executive Officer of The TJX Companies, Inc., commented, “Our June comparable store sales increase of 2% was below our expectations, which we believe is largely due to the sluggish consumer environment that prevailed throughout the month. Given the sales shortfall in June, our largest-volume month in the second quarter, combined with continued weakness at our HomeGoods division, we have trimmed our earnings per share expectations for the quarter to $.24 – $.25 per share.
“That said, at The Marmaxx Group, we continued to see enthusiastic customer response to our selections of women's apparel, as well as our recently expanded footwear and jewelry/accessories departments. We are also pleased with our very liquid open-to-buy position as we enter the back-to-school selling season, which enables us to continue to flow fresh, exciting merchandise to our stores at great values.”
