Consolidated same-store sales at
The TJX Companies Inc.
), an off-price retailer of apparel and home fashions, climbed
7.0% year over year in the four-week period ended October 27,
2012. As for total sales, it climbed 11.0% year over year for the
aforementioned period to $2.1 billion.
As for the 39-week period ended October 27, 2012, comparable
sales climbed 8% from the year-ago period. Total sales for the
same period went up 10.0% year over year to $18.2 billion.
Comparable sales jumped once again on the back of higher
customer traffic in the U.S., Canada and Europe divisions. TJX
Europe delivered growth of 11% during the four-week period ended
October 27, 2012 despite economic uncertainties in the
Following strong October comparable store sales, TJX raised
its outlook for the third quarter and fiscal year 2013. TJX is
slated to release its third quarter results on November 13 and
expects adjusted earnings to be approximately 63 cents in the
quarter. The company previously guided its adjusted earnings at
the higher end of the 56 to 59 cents per share range.
For fiscal year 2013, the company expects adjusted earnings in
the range of $2.46-$2.49 per share.
TJX has been reporting an increase in comparable store sales
for the past several quarters driven by higher demand and
increased consumer traffic.
We are encouraged by the company's flexible off-price business
model that allows it to act according to market trends. TJX has a
low-cost structure compared to many other traditional retailers.
It focuses aggressively on reducing expenses across its
Its close competitor,
) reported a 3.3% increase in comparable store sales for the
four-week period ended October 27, 2012. Total sales also jumped
4.6% to $1.39 billion during the same period.
The TJX Companies carries a Zacks #2 Rank (short-term Buy
rating). Over the long-term, the stock has a Neutral
KOHLS CORP (KSS): Free Stock Analysis Report
TJX COS INC NEW (TJX): Free Stock Analysis
To read this article on Zacks.com click here.