Our inventory position is extremely liquid, TJX CEO

18 May '11

4 min read

Foreign currency exchange rates also impacted the comparability of first quarter earnings per share to the prior year's first quarter. The overall net impact of foreign currency exchange rates had a $.03 per share negative impact on first quarter Fiscal 2012 earnings per share, which was not contemplated in the Company's original guidance, compared with a $.01 per share negative impact last year.

The Company's earnings guidance for the second quarter of Fiscal 2012 assumes that currency exchange rates will remain unchanged from current levels.

For the full year Fiscal 2012, the Company now expects earnings per share, on a GAAP basis, in the range of $3.70 to $3.82, compared with $3.30 in earnings per share from continuing operations in Fiscal 2011.

During the first quarter ended April 30, 2011, the Company decreased its store count by a net of 38 stores, including the former A.J. Wright stores that were closed and those that were converted into other TJX banners during the quarter. The Company increased square footage by 2% over the same period last year.

The TJX Companies Inc is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. The Company operates 956 T.J. Maxx, 872 Marshalls, and 350 HomeGoods stores in the United States, 213 Winners, 82 HomeSense, 5 Marshalls, and 3 STYLESENSE stores in Canada, and 316 T.K. Maxx and 24 HomeSense stores in Europe.

TJX Companies Inc

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