Consolidated same-store sales at
The TJX Companies Inc.
(
TJX
), an off-price retailer of apparel and home fashions, climbed 3%
year over year in the five-week period ended February 2, 2013,
compared to the 7% increase in the comparable year-ago
period.
Total sales soared 35.7% year over year for the aforementioned
period to $1.9 billion. Comparable sales were once again driven
by higher customer traffic.
As for the 52-week period ended January 26, 2013, comparable
sales climbed 7% from the year-ago period. Total sales for the
53-week period 53-week fiscal year ended February 2, 2013 went up
12% year over year to $23.2 billion.
Comparable store sales exceeded management's expectations on the
back of strong performance across all stores in the U.S., Canada
and Europe. Further, efficient choice of stocks at the stores
improved customer traffic during the period.
With consumers regaining confidence, Jan 2013 was strong for most
retailers, including
Gap Inc.
(
GPS
),
Ross Stores Inc.
(
ROST
) and
Costco Wholesale Corporation
(
COST
) which registered comps growth of 8%, 4% and 4%, respectively.
Guidance
Following strong sales in December, the company raised the fourth
quarter fiscal 2013 earnings outlook to 80 cents - 81 cents, up
from the previously announced range of 77 cents - 78 cents. The
improved earnings guidance reflects a 29%-31% increase from the
year-ago quarter.
For the full year, the company raised its guidance to the
range of $2.53-$2.54 per share from the previously announced
range of $2.50-$2.51.
Headquartered in Framingham, Massachusetts, TJX is an an
off-price apparel and home fashions retailer in the United States
and internationally. The company operates its stores under the
T.J. Maxx, Marshalls, Winners, HomeSense, HomeGoods, and T.K.
Maxx trademarks. The company currently carries a Zacks Rank #2
(Buy).
COSTCO WHOLE CP (COST): Free Stock Analysis
Report
GAP INC (GPS): Free Stock Analysis Report
ROSS STORES (ROST): Free Stock Analysis
Report
TJX COS INC NEW (TJX): Free Stock Analysis
Report
To read this article on Zacks.com click here.
Zacks Investment
Research
