News Flash

Consumer malaise & hot weather pep TJX sales, to dump e-com business

07 Oct '05

3 min read

The Company has reduced its third and fourth quarter earnings estimates to reflect the softer sales trends, as well as the impact of higher fuel costs on expenses. They now estimate third quarter earnings per share to be in the range of $.36-$.38, which includes an estimated $.035 per share impact from one-time items to be recognized in the third quarter.

These items include estimates of hurricane-related expenses, including the self-insured portion of property damage, lost sales, and costs incurred to assist our Associates, of approximately $.01 per share; exit costs and operating losses associated with the Company's e-commerce business of approximately $.015 per share, and; the previously disclosed costs associated with the resignation agreement between TJX and Edmond J. English, its former CEO, of $.01 per share.

For the fourth quarter, the Company now expects earnings per share in the range of $.41 to $.43, reflecting a more conservative sales outlook for the quarter.

Apparel and home fashions retailing company The TJX Companies Inc operates 788 T.J. Maxx, 709 Marshalls, 238 HomeGoods, and 148 A.J. Wright stores, as well as 35 Bob's Stores, in the United States. In Canada, the Company operates 170 Winners and 50 HomeSense stores, and in Europe, 190 T.K. Maxx stores. Company offers brand name family apparel, giftware, home fashions, women's footwear, and emphasizes accessories and fine jewelry, at prices 20 - 60% below regular department and specialty store prices.

The TJX Companies Inc

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