Consolidated same-store sales at
The TJX Companies, Inc.
), an off-price retailer of apparel and home fashions in the U.S.
and worldwide, climbed 8.0% year over year in the four-week period
ended May 26, 2012. This rate of increase in consolidated
same-store sales was in line with that of the year-ago period. As
for total sales, they climbed 10.0% in May 2012 to $1.9 billion
from $1.7 billion in the year-ago period.
Comparable sales for the year-to-date period climbed 8% over the
year-ago period. Total sales for the same period went up 11.0% year
over year to $7.7 billion.
Strong performance of all the stores in the U.S., Canada and
Europe led to the strong sales. Further, well-chosen stocks at the
stores consistently improved customer traffic during the
As of May 26, 2012, The TJX Companies operated 1,006 T.J. Maxx,
892 Marshalls, and 390 HomeGoods stores in the U.S.; 220 Winners,
87 HomeSense, and 12 Marshalls stores in Canada; and 337 T.K. Maxx
and 24 HomeSense stores in Europe.
For the second quarter of 2013, the company expects earnings per
share on a GAAP basis to be at the higher end of the
previously-announced range of 47 to 50 cents, representing a 4% to
11% increase over 45 cents per share reported last year.
During its earnings conference call, TJX Companies updated its
outlook for fiscal 2013 to a range of $2.27 to $2.37 per share,
which represents a 14% to 19% increase over the prior-year's
adjusted earnings per share from continuing operations of $1.93. As
per the Zacks Consensus estimate, fiscal 2013 earnings are expected
to be $2.41.
We are encouraged by the company's flexible off-price business
model that is allowing it to react according to market trends. TJX
Companies has a low-cost structure compared to many other
traditional retailers. It focuses aggressively on expenses
throughout its business.
TJX Companies competes with
Currently, The TJX Companies carries a Zacks #1 Rank (short-term
Strong Buy rating).
KOHLS CORP (KSS): Free Stock Analysis Report
TARGET CORP (TGT): Free Stock Analysis Report
TJX COS INC NEW (TJX): Free Stock Analysis
To read this article on Zacks.com click here.