English continued, "A.J. Wright's second quarter sales increased 25 percent over last year and comparable store sales increased 1 percent over the prior year. Bottom-line results improved over last year, and they now expect to net 24 new A.J. Wright stores in 2005.
"While Bob's Stores' second quarter results were slightly below last year, they are seeing strong merchandise margin growth at this young division. They now expect to end 2005 with a net of 4 new stores at the Bob's Stores chain."
English concluded, "They continue to generate significant returns on investment, which gives us the ability to grow the businesses while simultaneously pursuing company sizable share repurchase program and maintaining company strong financial position. During the second quarter, they spent a total of $127 million, retiring 5.5 million shares of TJX stock. Year-to-date, they have spent a total of $390 million in repurchases of TJX stock and have retired a total of 16.4 million shares."
Discount retailer The TJX Companies Inc is a retailer of apparel and home fashions in the US and worldwide. The Company 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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