Apparel retailer TJX notches 6% higher July sales at $1bn
05 Aug '05
2 min read
Discount apparel retailer The TJX Companies Inc reported July 2005 sales results. Sales for the four-week period ended July 30, 2005, were $1.1 billion, and up 6 percent over $1.0 billion achieved during the four-week period ended July 31, 2004.
For the 26 weeks ended July 30, 2005, sales reached $7.3 billion, an 8 percent increase over last year's $6.8 billion. Consolidated comparable store sales for the four-week period ended July 30, 2005, increased 1 percent over last year.
For the 13-week second quarter, comparable store sales rose 1 precent above last year. For the 26-week, year-to-date period, consolidated comparable store sales increased 2 percent over last year.
Edmond J. English, President and Chief Executive Officer of The TJX Companies Inc, stated, "The comparable store sales increase in July was less than they had expected.
However, despite softer sales, disciplined inventory management and opportunistic buying led to very strong merchandise margins and, therefore, they are maintaining their outlook for second quarter earnings per share in the range of $.25 - $.26."
Framingham located The TJX Companies Inc is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. It operates 777 T.J. Maxx, 700 Marshalls, 230 HomeGoods, and 143 A.J. Wright stores, as well as 34 Bob's Stores, in the United States. The Company also operates two e-commerce sites, www.tjmaxx.com and www.homegoods.com. In Canada, the Company operates 167 Winners and 47 HomeSense stores, and in Europe, 184 T.K. Maxx stores.
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