TJX Dec. sales up 6%, raises 4Q EPS outlook

FRAMINGHAM, Mass. TJX Thursday reported that sales for the five-week period ended Jan. 5 were $2.5 billion, up 6% over the $2.3 billion achieved during the five-week period ended Jan. 6, 2007.

Consolidated comparable-store sales for the five-week period ended Jan. 5 increased 3% over last year.

Carol Meyrowitz, president and ceo of TJX stated, “We are pleased that our December comparable-store sales increase of 3% was in line with our expectations. We achieved these results in a challenging consumer environment and over strong performance last year. Effective execution of our flexible off-price business model continued to pay dividends, as we were extremely disciplined in managing our inventories and controlling expenses, which led to very strong gross profit margins."

Meyrowitz added that the company is raising its fourth quarter EPS outlook to be in the range of 60 cents to 63 cents.