TJX Same-Store Sales Up 6% In Dec.
Framingham-based off-price retail giant TJX Cos. Inc. reported comparable same-store sales in December rose 6 percent, compared to an 8-percent increase in 2011. Year-to-date, sales were up 7 percent.
In a statement, CEO Carol Meyrowitz said the same-store sales "significantly exceeded" the company's expectations.
Overall, sales at the company – whose stores include Marshalls, T.J. Maxx and HomeGoods – increased 10 percent, from $3.3 billion in 2011 to $3.6 billion. For the 48-week, year-to date period, sales reached $23.9 billion, up 10 percent over the same period in 2011.
Meyrowitz said that, as a result of strong sales and margins in December, the company is raising its outlook for fourth-quarter earnings per share to be in the range of 77 cents to 78 cents, a 24- to 26-percent increase over last year. For the full year, expected earnings per share have been raised to be between $2.50 and $2.51.
Last month, the company acquired clothing and outdoor retailer Sierra Trading Post of Cheyenne, Wyo., in a deal valued at about $200 million. At the time, Meyrowitz said the acquisition complements TJX's plans to launch e-commerce sites, which Sierra had done since 1999.
Read more
WBJ Web Partners
Most Recent
Most Recent
0 Comments