The TJX Companies, Inc. reported sales for the four-week period ended Jan. 29, 2011, were $1.35 billion, up 8% over the $1.25 billion achieved during the four-week period ended Jan. 30, 2010.
For the 52 weeks ended Jan. 29, 2011, sales reached $22.1 billion, up 9% over the $20.3 billion achieved during the 52-week period last year.
Consolidated comparable store sales for the four-week period ended Jan. 29, 2011 increased 2% compared to 12% last year. For the 13-week fourth quarter, consolidated comparable store sales increased 2% over a 12% increase last year. For the 52-week, year-to-date period, consolidated comparable store sales increased 4% over a 6% increase last year.
“I am particularly pleased with January’s comparable store sales increases of 2% on both a consolidated basis and at The Marmaxx Group,” Carol Meyrowitz, CEO of The TJX Companies, Inc. “Both were well above our expectations and achieved over very strong double-digit increases in January last year. Further, we achieved these increases despite some of the worst winter storms in many years in the Northeast and the Midwest, where we have a heavy concentration of stores. With strong sales and margins, we are raising our previous outlook for this year’s fourth quarter and full year earnings per share.
“We now expect fourth quarter adjusted earnings per share to be slightly above the high end of our prior range of $.97 – $1.01 with a corresponding increase for the full year. We begin our new fiscal year in an excellent inventory position. This gives us great flexibility with which to capitalize on the abundant opportunities that we are seeing in the marketplace, which translates into great value for our customers.”