Consolidated same-store sales at
The TJX Companies Inc.
) climbed 8% year over year in the four-week period ended May 4,
2013. Comparable store sales in the period were at the higher end
of the guidance provided by management.
Total sales climbed 9% to $2.0 billion in the aforementioned
period. The growth is attributable to the strong customer traffic
at all the divisions of TJX driven by fresh spring collections.
Both apparel and home categories delivered strong results during
In the U.S. division of The Marmaxx group, comp sales went up
7%, in line with management expectations. A strong 10% gain in
home fashions comps and a decent 7% comp increase in apparel
comps boosted the sales growth in the segment. All the geographic
regions contributed to the same store sales growth in the
segment. While Northwest and Florida reported strongest sales
during the month, Southwest sales were up in mid single-digits,
though it trailed all the other regions.
At TJX Canada, same store sales went up 3%. While the region
was negatively affected by the cold weather at the beginning of
April, weather improved toward the end of the month pushing up
sales. At TJX Europe, comp sales went up 9% from the year-ago
Falling gas prices and the recovering job market encouraged
the Americans to spend during the month.
Limited Brands Inc.
) reported comp rise of 2% and 7% respectively while
Costco Wholesale Corp.
) reported comp gain of 4%.
For the first quarter of 2014, TJX refined its guidance and now
expects earnings per share between 61 cents and 62 cents instead
of 60 cents and 62 cents as announced previously.
Headquartered in Framingham, Mass., TJX is an off-price
apparel and home fashions retailer operating in the U.S. and
internationally. The company operates its stores under the T.J.
Maxx, Marshalls, Winners, HomeSense, HomeGoods and T.K. Maxx
trademarks. It currently carries a Zacks Rank #2 (Buy).
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