The TJX Companies, Inc. reported December sales grew 6.0% to $2.5 billion from $2.3 billion for the year-ago month. For the 48 week, year-to-date period, sales reached $17.5 billion, a 7% increase over last years $16.4 billion. Consolidated comparable store sales for the five-week period ended January 5, 2008, increased 3% over last year. For the 48-week period ended January 5, 2008, consolidated comparable store sales increased 4% over last year.
Carol Meyrowitz, president and CEO of The TJX Companies, Inc., stated, “We are pleased that our December comparable store sales increase of 3% was in line with our expectations. We achieved these results in a challenging consumer environment and over strong performance last year. Effective execution of our flexible off-price business model continued to pay dividends, as we were extremely disciplined in managing our inventories and controlling expenses, which led to very strong gross profit margins. With above-plan November sales and Decembers strong margin performance, we are raising our outlook for fourth quarter earnings per share from continuing operations to the range of $.60 -$.63. With great liquidity in our inventories, we are in an excellent position to take advantage of buying opportunities in the marketplace in January and into the spring selling season.”
