News Column

TJX Sales Hit $2.4 Billion for March

April 11, 2013
T.J. Maxx store in Peabody, Mass. (Photo: Anthony92931, Creative Commons)
T.J. Maxx store in Peabody, Mass. (Photo: Anthony92931, Creative Commons)

The TJX Companies Inc. said today its March sales were $2.4 billion, a 5 percent increase compared the same period last year, but consolidated comparable store sales were down 2 percent.

For the nine-week period ended April 6, total sales reached $4.2 billion, a 6 percent increase over the $4 billion achieved during the nine-week period ended March 31. For the nine-week period ended April 6, consolidated comparable store sales dropped 1 percent, officials said.

"Due to the year-over-year timing of Easter, we had not planned March to be a strong month against last year's high increase, and our comparable store sales were in line with our expected range. This was despite the extraordinarily cold weather across most regions in the U.S., Canada and Europe. In regions of the U.S. where weather was not an issue, we saw comp sales increases," said Carol Meyrowitz, CEO of the Framingham-based company, in a statement. "Further, overall business trends improved as the weather became warmer. April is off to a good start, our inventories are in great shape, and we are seeing an enormous amount of desirable product in the marketplace."

Meyrowitz added the company is narrowing the range of its earnings per share guidance to $0.60 to $0.62.

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(c)2013 the Boston Herald

Distributed by MCT Information Services


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Source: Copyright Boston Herald (MA) 2013


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