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HomeGoods Leads TJX Charge Through August

Tuesday September 4th, 2012 - 11:02AM


The TJX Cos., Inc. has reported that August consolidated comparable store sales increased 8% over last year’s results for the month as HomeGoods led the way with a 10% comp gain. Total sales for the four-week period ended August 25, were $1.9 billion, a 10% advance over the prior-year period.

In the United States, The Marmaxx Group, which includes T.J. Maxx and Marshalls, enjoyed a 9% comp, the company related in a conference call. Apparel and home-related merchandise made an equal 9% comp contribution. In Canada, the company's Winners and HomeSense banners combined posted a 2% comp gain, while in Europe, T.K. Maxx and HomeSense combined recorded a 9% comp increase.

Commenting on August results, Carol Meyrowitz, TJX CEO said, “We are delighted that the third quarter is off to a great start. Our strong momentum continued into August and gained as the month progressed, leading to comparable store sales increases that were well ahead of our expectations. For the month, comparable store sales increased 8% on a consolidated basis and 9% at The Marmaxx Group, our largest division. Once again, the strength of our performance was broad based. Customer traffic drove the comp sales increase across our divisions in the U.S., Canada and Europe, which we believe is a great indicator that our value proposition continues to resonate with consumers. With such strong comp sales in August, we are now expecting earnings per share in the fiscal 2013 third quarter to be near the high end of our previously estimated range of 56 cents to 59 cents. We believe we are in an excellent position to buy into the terrific opportunities in the marketplace, bringing great brands and fashions at compelling values to our customers.”

TJX operates 1,010 T.J. Maxx, 900 Marshalls and 399 HomeGoods stores in the U.S., 222 Winners, 87 HomeSense and 13 Marshalls stores in Canada, and 339 T.K. Maxx and 24 HomeSense stores in Europe. Marshalls, a new entry into Canada, is not a substantive contributor to comps currently.