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TJX beats street in December


TJX reported same-store sales of 2% December, beating Wall Street estimates for a 2.5% decline.Total sales rose 6% to $3 billion.

"I am extremely pleased with December's sales results, as we significantly exceeded our plans during this important period," TJX CEO Carol Meyrowitz, CEO, TJX.

TJX raised its fourth quarter guidance for fiscal 2011. The company said it nowexpects diluted earnings per share on a reported basis to be in the range of 70 cents to 71 cents compared with prior guidance, adjusted for the closing of the A.J. Wright business, of 62 cents to 64 cents per share.

In other December same-store sales results:

Ross Stores same-store sales climbed 4%;

SteinMart same-store sales dipped 1.9%, and total sales dropped 2.3% to $166.3 million;

Fred’s same-store edged up 0.2%; and

At Duckwall-Alco Stores, sales rose 1.1%.

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