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TJX net sales rise 6% in December
14 Jan '08
2 min read
The TJX Companies Inc reported December 2007 sales results. Sales for the five-week period ended January 5, 2008, were $2.5 billion, up 6% over the $2.3 billion achieved during the five-week period ended January 6, 2007.
For the 48 weeks ended January 5, 2008, sales reached $17.5 billion, a 7% increase over last year's $16.4 billion. Consolidated comparable store sales for the five-week period ended January 5, 2008, increased 3% over last year. For the 48-week period ended January 5, 2008, consolidated comparable store sales increased 4% over last year.
Carol Meyrowitz, President and Chief Executive Officer of The TJX Companies, Inc., stated, “We are pleased that our December comparable store sales increase of 3% was in line with our expectations. We achieved these results in a challenging consumer environment and over strong performance last year.
Effective execution of our flexible off-price business model continued to pay dividends, as we were extremely disciplined in managing our inventories and controlling expenses, which led to very strong gross profit margins.”
“With above-plan November sales and December's strong margin performance, we are raising our outlook for fourth quarter earnings per share from continuing operations to the range of $.60 -$.63. With great liquidity in our inventories, we are in an excellent position to take advantage of buying opportunities in the marketplace in January and into the spring selling season.”
The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. The Company operates 853 T.J. Maxx, 778 Marshalls, 289 HomeGoods, and 131 A.J. Wright stores, as well as 34 Bob's Stores, in the United States. In Canada, the Company operates 191 Winners and 71 HomeSense stores, and in Europe, 226 T.K. Maxx stores.
For the 48 weeks ended January 5, 2008, sales reached $17.5 billion, a 7% increase over last year's $16.4 billion. Consolidated comparable store sales for the five-week period ended January 5, 2008, increased 3% over last year. For the 48-week period ended January 5, 2008, consolidated comparable store sales increased 4% over last year.
Carol Meyrowitz, President and Chief Executive Officer of The TJX Companies, Inc., stated, “We are pleased that our December comparable store sales increase of 3% was in line with our expectations. We achieved these results in a challenging consumer environment and over strong performance last year.
Effective execution of our flexible off-price business model continued to pay dividends, as we were extremely disciplined in managing our inventories and controlling expenses, which led to very strong gross profit margins.”
“With above-plan November sales and December's strong margin performance, we are raising our outlook for fourth quarter earnings per share from continuing operations to the range of $.60 -$.63. With great liquidity in our inventories, we are in an excellent position to take advantage of buying opportunities in the marketplace in January and into the spring selling season.”
The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. The Company operates 853 T.J. Maxx, 778 Marshalls, 289 HomeGoods, and 131 A.J. Wright stores, as well as 34 Bob's Stores, in the United States. In Canada, the Company operates 191 Winners and 71 HomeSense stores, and in Europe, 226 T.K. Maxx stores.
The TJX Companies Inc
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