The TJX Companies, Inc. saw sales for the five-week period ended Jan. 3, 2009, of $2.37 billion, a 3% decrease from the $2.43 billion achieved during the five-week period ended Jan. 5, 2008. For the 48 weeks ended Jan. 3, 2009, sales reached $17.7 billion, up 2% over the $17.2 billion achieved during the 48 weeks ended Jan. 5, 2008. Sales for both the month and year-to-date include the negative impact of foreign currency translation (see below). Consolidated comparable store sales for the five-week period ended Jan. 3, 2009, were flat compared to last year on a constant currency basis, which we believe better reflects our operating performance, versus a 1% increase on the same basis last year. For the 48-week period ended Jan. 3, 2009, consolidated comparable store sales on a constant currency basis increased 1% from last year versus a 2% increase on the same basis last year.

Carol Meyrowitz, president and CEO of The TJX Companies, Inc., stated, “Despite the difficult economic conditions as well as snowstorms in many parts of the U.S., customer traffic was strong leading up to and following the holidays. Our value proposition continued to resonate with customers against an extremely promotional retail environment. We are pleased with our marketing strategies and the flow of fresh, gift oriented merchandise throughout the holiday season. As we approach our year-end, inventories are in good shape and we are ready to move forward with new merchandise at compelling values.”

For the five-week period ended Jan. 3, 2009, foreign currency exchange rates had a five percentage-point negative impact on consolidated comparable store sales. Including this negative impact, consolidated comparable store sales in U.S. dollars were down 5% for the period versus a 3% increase last year, which included a two percentage-point positive impact from foreign exchange. For the 48-week period ended Jan. 3, 2009, the effect of foreign currency exchange rates had a two percentage-point negative impact on consolidated comparable store sales. Including this negative impact, consolidated comparable store sales in U.S. dollars were down 1% for the period versus a 4% increase last year, which included a two percentage-point positive impact from foreign exchange. Beginning in Fiscal Year 2010, the Company will report comparable store sales results on a constant currency basis only, which it believes more closely reflects its operating performance and is consistent with the reporting practices of other multi-national retailers.

The company now expects a consolidated comparable store sales decrease of -2% to -5% in January on a constant currency basis, which excludes an anticipated five percentage-point negative impact from foreign currency exchange rates.

The company now expects fourth quarter reported diluted earnings per share from continuing operations to be in the range of 48 cents to 52 cents. This anticipated range reflects soft November and December sales results as well as the company’s revised January sales guidance. This range also includes an expected 9 cents per share benefit from the 53rd week in the company’s Fiscal 2009 calendar and a net 11 cents per share negative impact from foreign currency exchange rates, including the translation of foreign earnings into U.S. dollars and the reversal of the mark-to-market adjustment on inventory hedging instruments which benefited earnings results in the third quarter. In addition, this range reflects an expected 1 cent per share benefit due to an anticipated reduction in the reserve related to the previously announced computer intrusion(s). This expected range is based upon a revised estimate for a consolidated comparable store sales decrease for the fourth quarter of approximately -3% on a constant currency basis, which excludes an anticipated six percentage-point negative impact from foreign currency exchange rates.

The company now expects reported diluted earnings per share from continuing operations for the full Fiscal 2009 year to be in the range of $1.97 to $2.01. This range includes an expected 9 cents per share benefit from the 53rd week in the company’s Fiscal 2009 calendar and a net 8 cents per share negative impact from foreign currency exchange. This range also includes a net 4 cents per share positive impact of non-operating items, including a 2 cents per share tax-related benefit, a 1 cent per share third quarter benefit due to a reduction in the reserve related to the previously announced computer intrusion(s) (detailed in the Q3FY09 Form 10-Q), as well as the anticipated fourth quarter 1 cent per share benefit related to the computer intrusion(s) reserve referred to in the above paragraph. Excluding the net 4 cents per share benefit of these non-operating items, the company now expects adjusted diluted earnings per share from continuing operations for the full Fiscal 2009 year to be in the range of $1.93 to $1.97. This anticipated range is based upon revised estimated consolidated comparable store sales of approximately flat to up 1% for the full year on a constant currency basis, which excludes an anticipated one-and-a-half percentage-point negative impact from foreign currency exchange rates.

The company’s guidance for the fourth quarter and full Fiscal 2009 year reflects the minimal earnings-per-share impact of its decision to spend less than it anticipated for the repurchasing of its shares due to its approach to managing through the current, uncertain economic environment.