TJX reports 12% April sales increase

FRAMINGHAM, Mass. TJX reported that sales for the four-week period ended May 3, were $1.4 billion, up 12% over the $1.3 billion achieved during the four-week period ended May 5, 2007. For the 13 weeks ended May 3, sales reached $4.4 billion, up 6% over the $4.2 billion achieved during the 13 weeks ended May 5, 2007. Consolidated comparable-store sales for the four-week period ended May 3, increased 8% over last year.

Carol Meyrowitz, president and ceo of TJX stated, “Our April consolidated comparable-store sales increase of 8% was above our expectations as business trends improved dramatically when the weather turned warmer. Our value proposition, offering customers the combination of great fashion, quality, brand and price, continues to serve us well, even in a challenging consumer environment. Above-plan comparable store sales, coupled with sharp execution of our inventory strategies, has led to strong margin performance. As we enter the second quarter, we are very well positioned to capitalize upon the great buying opportunities in the marketplace and flow exciting merchandise to our stores.” 

The company said it now expects fiscal 2009 first quarter earnings per share to be 40 cents to 41 cents, which is above its most recently anticipated range.