TJX Cos. posts sales results; will take charge for breach
The TJX Companies in Framingham released it January sales results today, and reported a charge stemming from this month's security breach.
Sales for the four-week period ended January 27, 2007, were $1.0 billion, an 8 percent increase over the same period last year. For the 52 weeks ended January 27, 2007, TJX posted sales of $17.4 billion, a 9 percent increase over the $16.0 billion the company achieved last year. For the 13-week fourth quarter, consolidated comparable store sales increased 5 percent over last year's Q4, and for the 52-week, year-to-date period, consolidated comparable store sales increased 4 percent over last year.
TJX also expects to record a charge of approximately $0.01 per share in the fourth quarter of fiscal 2007, stemming from an unauthorized intrusion into its computer systems that hold information pertaining to customer transactions. The charge represents costs incurred to investigate and contain the intrusion, enhance computer security and systems, communicate with customers, and other fees associated with the security breach.
Despite the charge, the company still expects to record a range of $0.48 - $0.50 in earnings per share from continuing operations, including the charge. Excluding the charge, the company expects to be at the high end of this range.
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