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TJX consolidated comparable store sales decline
14 Oct '08
4 min read
Impact of Foreign Currency Exchange Rates:
In addition to its U.S. businesses, the Company operates stores in Canada, the U.K., Ireland, and Germany, and is therefore affected by foreign exchange rate fluctuations. It is important to note that translation of foreign currency generally affects the Company's sales more than profit, as sales and expenses are translated at approximately the same rates.
As noted above, foreign exchange rates negatively impacted consolidated comparable store sales in September by two percentage points. While the Company anticipates foreign exchange rates to negatively impact third quarter consolidated comparable store sales by approximately two percentage points, the impact on earnings per share from continuing operations is expected to be $.01 per share, as noted above.
In addition to its U.S. businesses, the Company operates stores in Canada, the U.K., Ireland, and Germany, and is therefore affected by foreign exchange rate fluctuations. It is important to note that translation of foreign currency generally affects the Company's sales more than profit, as sales and expenses are translated at approximately the same rates.
As noted above, foreign exchange rates negatively impacted consolidated comparable store sales in September by two percentage points. While the Company anticipates foreign exchange rates to negatively impact third quarter consolidated comparable store sales by approximately two percentage points, the impact on earnings per share from continuing operations is expected to be $.01 per share, as noted above.
TJX Companies Inc
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