January 8, 2009
Exchange Rates Take Toll On TJX
By Matthew L. Brown
Discount retailer TJX Cos. Inc. of Framingham said its December sales results were down 3 percent compared to the same month the prior year.
Sales for December hit $2.37 billion compared to $2.43 billion the year before. Same-store sales were flat compared to the previous year, the company said.
The company said foreign currency exchange rates took five percentage points off its same-store sales results.
In the 48-week period ended Jan. 3, sales at TJX stores hit $17.7 billion, a 2 percent increase over the $17.2 billion the company reported for the same period in 2007.
TJX operates TJ Maxx, Marshalls, HomeGoods and other discount retailers.
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