The TJX Companies, Inc. reported sales for the four-week period ended July 31, 2004, were $1.0 billion, up 12% over $899 million achieved during the four-week period ended August 2, 2003. Consolidated comparable store sales for the four-week period ended July 31, 2004, increased 3% over last year.
For the 26 weeks ended July 31, 2004, sales reached $6.8 billion, a 15% increase over last year's $5.9 billion.
Edmond J. English, President and Chief Executive Officer of The TJX Companies, Inc., stated, “Driven by strong performance at our Winners business in Canada, overall comparable store sales in July were within our expected range. Sales at our other divisions came in below expectations, leading to a higher level of markdown activity in the month than we had anticipated. Therefore, we now expect second quarter earnings per share in the $.23 – $.24 range. Although sales at The Marmaxx Group were slightly below what we had anticipated, we are encouraged by the continued strong trends in women's sportswear, footwear, jewelry and accessories at this major division. As we enter the third quarter, we are very pleased with inventory levels and our liquid open-to-buy position, and we remain confident in our ability to achieve our goals for the balance of the year.”
