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Off-price apparel retailer TJX updates Q4 outlook
08
Feb '08
The TJX Companies Inc reported January 2008 sales results. Sales for the four-week period ended February 2, 2008, were $1.13 billion, up 7% over the $1.06 billion achieved during the four-week period ended February 3, 2007.

For the 52 weeks ended February 2, 2008, sales reached $18.7 billion, a 7% increase over last year's $17.4 billion. Consolidated comparable store sales for the four-week period ended February 2, 2008, increased 3% over last year.

Carol Meyrowitz, President and Chief Executive Officer of The TJX Companies Inc, stated, “Our consolidated comparable store sales increase of 3% in January was just below our expectations and was achieved on top of a 4% increase last year. Once again, we were extremely disciplined in managing our inventories and expenses, which allowed us to maintain very strong profit margins.

We now expect fourth quarter earnings per share from continuing operations to be near the high end of our previously anticipated range of $.60 - $.63. We enter the spring selling season in an excellent position to drive sales, with great liquidity in our inventories. Further, we will continue to focus on inventory and expense management to deliver strong profit growth in a challenging retail environment.”

The Company expects to release fourth quarter and fiscal 2008 year-end earnings on Wednesday, February 20, 2008, before 9:30 a.m. ET. At 11:00 a.m. ET that day, Carol Meyrowitz, President and Chief Executive Officer, TJX, will hold a conference call with stock analysts to discuss the Company's fiscal 2008 results, operations and business trends, as well as expectations for fiscal 2009. A real-time webcast of the call will be available at TJX website.

The TJX Companies Inc

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