TJX July comps beat company's expectations

FRAMINGHAM, Mass. The TJX Companies today reported that sales for the four-week period ended Aug. 4, were $1.3 billion, up 8% over the $1.2 billion achieved during the four-week period ended Aug. 5, 2006. For the 26 weeks ended Aug. 4, sales reached $8.5 billion, an 8% increase over last year's $7.9 billion. Consolidated comparable-store sales for the four-week period ended Aug. 4 increased 5% over last year.

Carol Meyrowitz, president and ceo of The TJX Companies, stated, "Continuing our trend, July consolidated comparable-store sales were above our expectations, underscoring our belief that customers find our values on brand name fashions compelling, even in difficult consumer environments. As we move into the beginning of the fall season, our stores offer a great mix of brands and fashions. With three months of consistently strong performance, we look forward to reporting operating results for the second quarter."

The company now expects second quarter earnings per share from continuing operations, excluding costs related to the previously announced computer intrusion(s), slightly above the high end of its previously expected range of 34 cents to 36 cents. The company continues to expect that second quarter earnings per share from continuing operations will be reduced by an estimated 2 cents to 3 cents for costs incurred during the second quarter related to the intrusion(s).