TJX and Kohl’s report Sept. sales and raise outlooks

FRAMINGHAM, Mass. and MENOMONEE FALLS, Wis. TJX and Kohl's reported increased September sales results and raised their outlooks for third quarter.

TJX's sales for the five-week period ended Oct. 3, were $2 billion, up 8% over the $1.8 billion achieved during the five-week period ended Oct. 4 the year prior. For the 35 weeks ended Oct. 3, sales reached $12.6 billion, up 4% over the $12.2 billion achieved during the 35-week period last year. Consolidated comparable-store sales increased 7% compared with last year for the five-week period ended Oct. 3. For the 35-week, year-to-date period, consolidated comparable-store sales increased 4% compared with last year.

The company now expects third quarter fiscal 2010 diluted earnings per share from continuing operations to be in the range of 71 cents to 74 cents, compared with 58 cents in reported earnings per share from continuing operations in the prior year. This range is based upon a raised expectation for October consolidated comparable store sales to an increase of 5% to 6%.

For fourth quarter fiscal 2010 the company expects diluted earnings per share from continuing operations to be in the range of 60 cents to 66 cents, compared with 58 cents in reported earnings per share from continuing operations in the prior year. This range is based upon a raised expectation for fourth quarter consolidated comparable-store sales to an increase of 3% to 5%.

Kohl’s reported that total sales for the five-week month ended Oct. 3 increased 9.6% from the five-week month ended Oct. 4 the year prior. On a comparable-store basis, sales increased 5.5% for the month of September.

Total year-to-date sales were up 2.8% over the comparable prior year period. On a comparable-store basis, year-to-date sales decreased 1.7%.

Kevin Mansell, Kohl’s chairman, president and CEO, commented, “All regions and all lines of business reported comparable-store sales increases in September. The Southwest region and the accessories business were once again the strongest performers with double-digit comparable store sales increases. As a result of our quarter-to-date performance, we are raising our third quarter earnings per share guidance from 40 cents to 44 cents per diluted share to 52 cents to 54 cents per diluted share.”