TJX Updates Q2 Outlook Upon Strong May Sales
Framingham-based TJX Cos. Inc. reported May sales of $1.9 billion, up 10 percent over the same month in 2011.
Last year, sales at the apparel and home fashions retailer which owns T.J. Maxx, Marshalls and HomeGoods stores were $1.7 billion over the four-week period. The company also reported $7.7 billion in sales for the year so far, up 11 percent from last year's $6.9 billion.
Consolidated comparable store sales for the year and May increased 8 percent over last year. CEO Carol Meyrowitz said sales for the second half of May exceeded expectations.
"With above-plan sales in May, we now expect second quarter earnings per share to be at the high end of our previously estimated range of 47 cents to 50 cents," she said in a statement.
WBJ Web Partners
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