The TJX Companies, Inc. reported May 2005 sales results. Sales for the four-week period ended May 28, 2005, were $1.2 billion, 5% above the $1.1 billion achieved during the four-week period ended May 29, 2004. For the 17 weeks ended May 28, 2005, sales reached $4.8 billion, an 8% increase over last year's $4.5 billion. Consolidated comparable store sales for the four-week period ended May 28, 2005, decreased 1% versus last year's strong 5% increase. For the 17-week period ended May 28, 2005, consolidated comparable store sales increased 2% over last year.
Edmond J. English, president and chief executive officer of The TJX Companies, Inc., commented, “With the unseasonably cold and rainy weather that prevailed throughout the entire month of May in most of the U.S. and Canada, comparable store sales came in below our expectations. That said, sales remained strong in regions where the weather was seasonable. Further, despite the miss in sales, inventories remain well controlled, leaving us solidly positioned to take advantage of the summer selling season. With the majority of second-quarter business still in front of us, we are waiting until we report June sales to update our earnings per share guidance for the quarter.”
