The TJX Companies, Inc. (NYSE: TJX)
TJX (?The TJX Companies?) previously reported sales and earnings results for the third quarter ended October 27, 2012. TJX (?The TJX Companies?) Net sales for the third quarter of Fiscal 2013 increased 11% to $6.4 billion and consolidated comparable store sales increased 7%. TJX (?The TJX Companies?) Net income for the third quarter was $462 million and diluted earnings per share were $.62, a 17% increase over $.53 per share last year.
For the first nine months of Fiscal 2013, TJX (?The TJX Companies?) net sales were $18.2 billion, a 10% increase over last year, and consolidated comparable store sales increased 8% over the same period last year. Net income was $1.3 billion, and diluted earnings per share were $1.73 compared to $1.31 in the same period last year. Last year?s results include a number of items (detailed under ?Items Impacting Comparability? below) that impacted the comparability of earnings per share. Excluding these items, diluted earnings per share for the first nine months of Fiscal 2013 increased 26% over the adjusted $1.37 last year
For the fourth quarter of Fiscal 2013, TJX (?The TJX Companies?) expects diluted earnings per share to be in the range of $.72 to $.75, which would represent a 16% to 21% increase over $.62 per share last year. This outlook is based upon estimated consolidated comparable store sales growth of flat to 2%. The Company?s fourth quarter guidance includes an expected $.07 per share benefit from the 53rd week in the Company?s Fiscal 2013 calendar. Excluding this benefit, the adjusted guidance in the range of $.65 to $.68 represents a 5% to 10% increase over the prior year.
For the fiscal year ending February 2, 2013, TJX (?The TJX Companies?) is raising its guidance for diluted earnings per share by $.01. The Company now expects diluted earnings per share for the full year to be in the range of $2.45 to $2.48, compared with $1.93 on a reported basis in Fiscal 2012. This guidance represents a 23% to 25% increase over the prior year?s adjusted earnings per share from continuing operations of $1.99 (detailed below) and is now based upon estimated consolidated comparable store sales growth of 5% to 6%.
The TJX Companies, Inc. (NYSE: TJX) is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. The Company operates 1,030 T.J. Maxx, 911 Marshalls, and 414 HomeGoods stores in the United States; 222 Winners, 88 HomeSense, and 14 Marshalls stores in Canada; and 343 T.K. Maxx and 24 HomeSense stores in Europe. TJX?s press releases and financial information are also available at www.tjx.com.
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