TJX Sept., YTD Sales Rise 10%
Framingham-based retail giant TJX Cos. Inc. reported September sales of $2.5 billion, up 10 percent over the same month in 2011.
Year-to-date sales through Sept. 29, also jumped 10 percent, rising to $16.1 billion, the company reported. Meanwhile, same-store sales rose 6 percent in September over last year and sales increased 8 percent.
CEO Carol Meyrowitz said the company, which owns off-price retail stores such as T.J. Maxx, HomeGoods and Marshalls, is particularly happy with its business at TJX Europe, where same-store sales rose 13 percent.
"Our results in Europe represent consistently good performance and an increasingly strong trend, which underscore our confidence in our European growth opportunity," Meyrowitz said in a statement. "It's important to note that we ended the month with great momentum across the board, which bodes well for the rest of the fall as well as the 2012 holiday selling season, which we believe will be terrific for TJX."
TJX said the better-than-expected September sales would have prompted a raised earnings outlook for the third quarter, but the company is estimating it will have a 2-cent, one-time charge during the quarter to account for a correction to its pension accrual for previous years. The company is expecting third-quarter earnings per share to be at the high end of a 56-to 59-cent range
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