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HomeGoods Gives TJX A Lift As Fiscal Year Finishes

The TJX Companies, Inc. has announced that sales for the 53-week fiscal year ended February 2 reached $25.9 billion, a 12% increase over those in the previous 52-week fiscal year ended January 28, 2012. For the 52-week period ended January 26, consolidated comparable store sales increased 7% over the same period a year ago.

For the five-week fiscal period ended February 2, sales were $1.9 billion versus $1.4 billion for the four-week period ended January 28, 2012. Comps for the four-week period ended January 26 increased 3% over the year-earlier month.

For the 13-week fourth quarter ended January 26, 2013, comps increased 4% over the year-prior period.

In a conference call TJX stated that Marmaxx comps, those for T.J. Maxx and Marshalls combined, increased by 3% in January. HomeGoods comps gained 6% in the month. In Canada, comps at Winners and HomeSense combined increased by 4%, while in Europe, combined comps at T.K. Maxx and HomeSense were flat, hurt by rough winter weather, TJX stated.

Carol Meyrowitz, TJX CEO said in comments on the sales results, “We are very pleased with our 3% consolidated comparable store sales increase in January, which was above our plan and achieved over 7% growth last year. Customer traffic once again drove this month’s comp increases across the board, as consumers continue to be drawn to our great values on great fashions and brands. With strong sales and margins in January, we are once again raising our outlook for fourth quarter earnings per share to be approximately 80 cents to 81 cents, a 29% to 31% increase over last year. For the full year, we are raising our guidance for earnings per share to be approximately $2.53 to $2.54, which would represent 25-plus percent growth over the prior year for our $25 billion-plus company. As we begin a new fiscal year and transition into spring, our merchandise mix is extremely fresh, and we are confident we will continue to attract more U.S. and international customers with our tremendous values.”