The TJX Companies Inc reported June 2007 sales results. Sales for the five-week period ended July 7, 2007, were $1.7 billion, up 9% over the $1.5 billion achieved during the five-week period ended July 8, 2006. For the 22 weeks ended July 7, 2007, sales reached $7.2 billion, an 8% increase over last year's $6.7 billion.
Consolidated comparable store sales for the five-week period ended July 7, 2007, increased 5% over last year. For the 22-week period ended July 7, 2007, consolidated comparable store sales increased 4% over last year.
Carol Meyrowitz, President and Chief Executive Officer of The TJX Companies, Inc., stated, “I am pleased that our June consolidated comp store sales were above our expectations and achieved on top of a strong June last year. Additionally, the majority of our divisions posted above-plan sales and merchandise margins.
We continued our strong execution of our off-price fundamentals, disciplined inventory management and opportunistic buying, which resulted in a flow of great brands at compelling values. With an above-plan May and June, we are looking forward to reporting strong second quarter operating results.”
The Company now expects second quarter earnings per share from continuing operations, excluding costs related to the previously announced computer intrusion(s), in the range of $.34 to $.36. This represents a 17% to 24% increase on top of last year's strong increase.
The Company continues to expect that second quarter earnings per share from continuing operations will be reduced by an estimated $.02 to $.03 for costs incurred during the second quarter related to the intrusion. Beyond these costs, TJX continues to evaluate additional losses it may incur, along with related costs and expenses, arising from the intrusion, and will record known losses when they become both probable and reasonably estimable.
The TJX Companies is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. The Company operates 832 T.J. Maxx, 765 Marshalls, 273 Home Goods, and 128 A.J. Wright stores, as well as 34 Bob's Stores, in the United States. In Canada, the Company operates 185 Winners and 70 HomeSense stores, and in Europe, 212 T.K. Maxx stores.
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