Home / Knowledge / News / Apparel/Garments / TJX consolidated comparable store sales decline
TJX consolidated comparable store sales decline
Oct '08
The TJX Companies Inc reported September 2008 sales results. Sales for the five-week period ended October 4, 2008, were $1.83 billion, up 3% over the $1.78 billion achieved during the five-week period ended October 6, 2007. For the 35 weeks ended October 4, 2008, sales reached $12.2 billion, up 6% over the $11.5 billion achieved during the 35 weeks ended October 6, 2007.

Consolidated comparable store sales for the five-week period ended October 4, 2008, decreased 1% compared to last year. Foreign currency exchange rates negatively impacted September comparable store sales by two percentage points, which was unanticipated in the Company's prior guidance.

Excluding the impact of foreign currency exchange rates, consolidated comparable store sales increased 1% for the month. For the 35-week period ended October 4, 2008, consolidated comparable store sales increased 3% over last year, with a neutral impact from foreign currency exchange rates.

Carol Meyrowitz, President and Chief Executive Officer of The TJX Companies, Inc., stated, “Although September consolidated comparable store sales were below plan, customer transactions were up across virtually all divisions. Also, despite economic concerns internationally, our divisions in these markets had strong performance.

With the volatile economic environment in the U.S. and a generally warmer September than last year, we were pleased to see sales trends in the U.S. dramatically improve at the end of the month as the weather turned more seasonable in key regions. While we believe that consumers are worried, we also believe that with the right execution of our resilient business model, our financial strength, extremely well controlled inventories, strong merchandise margins, and the excellent values we offer our customers, we are in an excellent position going into the holiday season.”

Updated Guidance:
The Company is lowering its guidance for third quarter earnings per share from continuing operations to the range of $.55 to $.58 primarily to reflect lower-than-expected sales. This range is based upon estimated consolidated comparable store sales growth for the quarter of approximately flat to 1%. It assumes a negative impact from foreign exchange rates of $.01 per share and represents a 2% to 7% increase over the $.54 in diluted earnings per share in the prior year.

Reflecting this updated guidance, the Company now expects full year Fiscal 2009 diluted earnings per share from continuing operations to be in the range of $2.26 to $2.31 with consolidated comparable store sales growth of approximately 2%. This guidance includes an expected $.09 per share benefit from the 53rd week in the Company's Fiscal 2009 fourth quarter and the $.02 per share benefit from unanticipated tax-related adjustments in the first quarter of Fiscal 2009.

Last year's results included a charge of $.25 per share related to the previously announced computer intrusion(s). Excluding these items, full year Fiscal 2009 adjusted diluted earnings per share from continuing operations are estimated to be in the range of $2.15 to $2.20, an increase of 11% to 14% over the prior year's adjusted $1.93.

Must ReadView All

Courtesy: Michael Kors

Fashion | On 25th Jul 2017

Michael Kors to acquire Jimmy Choo

Global fashion luxury brand Michael Kors Holdings Limited has reached ...

Apparel/Garments | On 25th Jul 2017

VF Corp posts $2.4 billion revenue for Q2 2017

VF Corporation has recorded revenue of $2.4 billion, up 2 per cent,...

Textiles | On 25th Jul 2017

Egypt signs agreement with UNIDO for cotton production

Egypt has signed a €1.5 million ($1.74 million) cooperation agreement ...

Interviews View All

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Evelyne Cholet

‘France had a reputation of being big in new ideas, but poor in marketing...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category

Related Categories:

Planning to Take the Leap towards

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search