Home / Knowledge / News / Apparel/Garments / Off-price apparel retailer TJX raises Q4 & full year outlook
Off-price apparel retailer TJX raises Q4 & full year outlook
Feb '09
The TJX Companies Inc reported January 2009 sales results. Sales for the four-week period ended January 31, 2009, were $1.0 billion, a 6% decrease from the $1.1 billion achieved during the four-week period ended February 2, 2008. For the 52 weeks ended January 31, 2009, sales reached $18.7 billion, up 2% from the $18.4 billion achieved during the 52 weeks ended February 2, 2008.

Sales for both the month and year-to-date periods include the negative impact of foreign currency translation (see below). Consolidated comparable store sales for the four-week period ended January 31, 2009, on a constant currency basis were down 4% compared to a 1% increase last year on the same basis.

Carol Meyrowitz, President and Chief Executive Officer of The TJX Companies, Inc., stated, “Consolidated comparable store sales for January were within our anticipated range. While January is typically a clearance month, I am pleased that we are entering February with inventories that are in excellent shape, clearance levels that were well below last year and extremely fresh assortments for the spring season.

With merchandise margins stronger than anticipated, we now expect adjusted earnings per share to be near the high end of our previously anticipated range. We continue to believe that we are well positioned to combat the difficult consumer environment by offering great brands at excellent values.”

Impact of Foreign Currency Exchange Rates:
For the four-week period ended January 31, 2009, foreign currency exchange rates had a five percentage-point negative impact on consolidated comparable store sales, as the Company expected.

Including this negative impact, consolidated comparable store sales in U.S. dollars were down 9% for the period versus a 3% increase last year, which included an approximately one-and-a-half percentage-point positive impact from foreign exchange. As previously announced, 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.

Updated Guidance for Fourth Quarter and Full Year Fiscal 2009:
The Company now expects fourth quarter reported diluted earnings per share from continuing operations to be in the range of $.53 to $.54. This anticipated range now reflects an anticipated $.03 per share benefit due to a reduction in the reserve related to the previously announced computer intrusion(s), reflecting insurance recoveries as well as other adjustments.

Excluding this benefit, the Company now expects adjusted diluted earnings per share from continuing operations for the fourth quarter to be in the range of $.50 to $.51, near the high end of the Company's previous guidance, primarily due to stronger-than-expected merchandise margins. This range also includes an expected $.09 per share benefit from the 53rd week in the Company's Fiscal 2009 calendar and a net $.11 per share negative impact from foreign currency exchange rates.

Must ReadView All

Courtesy: Li & Fung

Textiles | On 29th Mar 2017

Li & Fung introduces new 3-year plan 2017-2019

Li & Fung Limited has outlined its next Three-Year Plan (2017-2019)...

Courtesy: Carrington

Apparel/Garments | On 29th Mar 2017

Carrington Workwear signs JV with TMG Textiles

Carrington Workwear, one of the largest producers of workwear fabrics ...

Apparel/Garments | On 29th Mar 2017

Jabong launches Aeropostale on its platform

Jabong has added leading American high-street fashionwear brand,...

Interviews View All

Rahuul Jashnani

‘Online economy has changed the whole dynamics of buying habits.’

Rashi Menda

Every fifth sale we make on Zapyle is a repeat purchase

Abhishek Samdaria

GST will certainly reduce a lot of paperwork in future

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Paolo Ocleppo
Sandvik Hyperion

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

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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

March 2017

March 2017

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


Browse Our Archives


Subscribe today and get the latest News update in your mail box.
Advanced Search