TJX sales are going strong

FRAMINGHAM, Mass. TJX reported strong October sales results. Sales for the four-week period ended Oct. 31 were $1.7 billion, up 15% over the $1.5 billion achieved during the four-week period ended Nov. 1 the year prior. Consolidated comparable-store sales increased 10% compared with last year for the four-week period ended Oct. 31. For the 13-week third quarter, consolidated comparable-store sales increased 7% over last year.

For the 39 weeks ended Oct. 31, sales reached $14.3 billion, up 5% over the $13.6 billion achieved during the 39-week period last year. For the 39-week, year-to-date period, consolidated comparable-store sales increased 5% compared with last year.

Carol Meyrowitz, president and CEO of TJX, stated, “We are particularly pleased with our 12% comp sales increase at [Marmaxx] where customer traffic continued to drive sales throughout the month, boding well for the holiday season. With our continued strong performance, we now expect third quarter Fiscal 2010 diluted earnings per share from continuing operations to be at or slightly above our recently raised range of 77 cents to 79 cents.”