The TJX Companies, Inc. reported June 2003 sales results. Sales for the five-week period ended July 5, 2003, were $1,183 million, up 10% over $1,073 million achieved during the five-week period ended July 6, 2002. Consolidated comparable store sales for the five-week period ended July 5, 2003, increased 2% over last year.
For the 22 weeks ended July 5, 2003, sales reached $4,999 million, a 7% increase over last year’s $4,667 million. For the 22-week year-to-date period, consolidated comparable store sales were flat against a 5% increase last year.
Edmond J. English, President and Chief Executive Officer of The TJX Companies, Inc., commented, “June sales were below expectations due to the continued cool and rainy weather patterns that persisted primarily in the Northeast region of the U.S. during the first half of the month. We saw business pick up in the latter half of the month, as the weather turned summer-like. As a result of June sales being below plan, we have reduced our second quarter earnings per share expectations slightly to $.23 – $.24 per share. Our inventory management remains very disciplined. Each of our divisions ended the month with inventories in excellent shape, which enables us to continue to make great buys in the marketplace and flow current, exciting merchandise to our stores.”
