TJX reports flat March comps, lowers outlook

FRAMINGHAM, Mass. TJX reported that sales for the five-week period ended April 5, were $1.73 billion, up 2% over the $1.7 billion achieved during the five-week period ended April 7. Consolidated comparable-store sales for the five-week period ended April 5, were flat versus last year.

Carol Meyrowitz, president and ceo of TJX stated, “This year, the challenge of the early Easter, coupled with unseasonably cold weather, resulted in our below-plan March consolidated comparable-store sales. Also, we were up against a strong 6% increase last year."

The company now expects earnings per share from continuing operations for the first quarter to be at or slightly below the low end of its previously expected range of 40 cents to 41 cents.