The TJX Companies, Inc. Reports 8% December 2011 Comp Store Sales Increase; Updates Earnings Outlook; Announces 2-for-1 Stock...
05 1월 2012 - 10:36PM
Business Wire
The TJX Companies, Inc. (NYSE: TJX) today reported strong
December 2011 sales results and updated its outlook for the fourth
quarter. The Company also announced that its Board of Directors
approved a two-for-one stock split of the Company’s common stock in
the form of a stock dividend. One additional share will be paid for
each share held by holders of record at the close of business on
January 17, 2012. The shares will be distributed on February 2,
2012.
Sales for the five-week period ended December 31, 2011, were
$3.3 billion, up 8% over the $3.0 billion achieved during the
five-week period ended January 1, 2011. For the 48 weeks ended
December 31, 2011, sales reached $21.8 billion, up 6% over the
$20.6 billion achieved during the 48-week period last year.
Consolidated comparable store sales increased 8% compared to last
year for the five-week period ended December 31, 2011. For the
48-week, year-to-date period, consolidated comparable store sales
increased 4% compared to last year.
Carol Meyrowitz, Chief Executive Officer of The TJX Companies,
Inc., stated, “I am extremely pleased with our December comp sales
increase of 8%, which significantly exceeded our expectations. We
believe that value remains critically important to consumers, and
that our great values, brands, and gift-giving selections drove
large increases in customer traffic during the month. Further, we
made a strategic decision to price aggressively in order to
reinforce our value position in a very promotional retail
environment, and to clear cold weather apparel in this unseasonably
warm winter. We believe that driving customers to our stores in
this important holiday period will benefit our business next year
and in the longer term. I am also delighted that sales were strong
at every division and that both of our international businesses
performed very well. We enter January with very lean inventories
and the flexibility to ship fresh merchandise with great values to
our stores. As we look further out into next year, we believe we
are very well positioned to continue to post strong sales and
margins.”
Regarding the two-for-one stock split, Meyrowitz commented,
“Over the past three years, we have driven strong comparable store
sales and earnings increases and have seen our stock price grow
significantly. In addition, TJX has substantial growth
opportunities in the U.S. and internationally, and continues to
deliver superior financial returns. The two-for-one stock split
announced today underscores our confidence in our ability to
continue to significantly increase sales, earnings and cash flow.
Since our last stock split in 2002, our share price has
approximately tripled.”
Updated Fourth Quarter Fiscal 2012
Guidance
With its aggressive stance on pricing and clearance of cold
weather apparel in December, the Company continues to expect fourth
quarter Fiscal 2012 earnings per share to be in the range of $1.19
- $1.23. While this guidance remains unchanged, it now includes an
estimated $.03 per share negative impact from several items that
impact the comparability of results and were not anticipated in the
Company’s original guidance provided on November 15, 2011. These
items include costs related to closing the Company’s StyleSense
stores in Canada, an early retirement program at the Company’s home
office, the closure of an office facility in Europe, and a
separation agreement. This guidance reflects the Company’s
expectation that consolidated pretax margins for the fourth quarter
of Fiscal 2012 will be flat to up 20 basis points over the prior
year.
The prior year’s fourth quarter fully diluted earnings per share
of $.83 includes $.22 per share in costs related to the closing and
consolidation of the Company’s A.J. Wright division. Excluding
these costs from prior year comparisons, the Company’s current year
fourth quarter earnings per share guidance of $1.19 to $1.23 per
share represents a 13% to 17% increase over the prior year’s
adjusted $1.05.
More detailed information on the Company's guidance for the
Fiscal 2012 fourth quarter is available in the investor information
section of www.tjx.com.
About The TJX Companies,
Inc.
The TJX Companies, Inc. is the leading off-price retailer of
apparel and home fashions in the U.S. and worldwide. The Company
operates 986 T.J. Maxx, 891 Marshalls, and 375 HomeGoods stores in
the United States; 216 Winners, 86 HomeSense, and 6 Marshalls
stores in Canada (the Company currently operates 3 STYLESENSE
stores in Canada which it plans to close in January 2012); and 333
T.K. Maxx and 24 HomeSense stores in Europe. TJX’s press releases
and financial information are also available at www.tjx.com.
December and January Fiscal 2012 Sales
Recorded Calls
A recorded message with more detailed information regarding
TJX’s December 2011 sales, operations and business trends is
available at www.tjx.com, or by calling (703) 736-7248 through
Thursday, January 12, 2012. The Company expects to release its
January 2012 sales on Thursday, February 2, 2012, at approximately
8:15 a.m. ET. Concurrent with that press release, a recorded
message with more detailed information regarding TJX’s January
sales, operations and business trends will be available at
www.tjx.com, or by calling (703) 736-7248 through Thursday,
February 9, 2012.
Important Information at
Website
Archived versions of the Company’s recorded messages and
conference calls are available at www.tjx.com after they are no
longer available by telephone. The Company routinely posts
information that may be important to investors in the Investor
Information section at www.tjx.com. The Company encourages
investors to consult that section of its website regularly.
Forward-looking
Statement
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995: Various statements made in this release are
forward-looking and involve a number of risks and uncertainties.
All statements that address activities, events or developments that
we intend, expect or believe may occur in the future are
forward-looking statements. The following are some of the factors
that could cause actual results to differ materially from the
forward-looking statements: global economies and credit and
financial markets; foreign currency exchange rates; buying and
inventory management; market, geographic and category expansion;
customer trends and preferences; quarterly operating results;
marketing, advertising and promotional programs; data security;
seasonal influences; large size and scale; unseasonable weather;
serious disruptions and catastrophic events; competition; personnel
recruitment and retention; acquisitions and divestitures;
information systems and technology; cash flows; consumer spending;
merchandise quality and safety; merchandise importing;
international operations; commodity prices; compliance with laws,
regulations and orders; changes in laws and regulations; outcomes
of litigation and proceedings; real estate leasing; market
expectations; tax matters and other factors that may be described
in our filings with the Securities and Exchange Commission. We do
not undertake to publicly update or revise our forward-looking
statements even if experience or future changes make it clear that
any projected results expressed or implied in such statements will
not be realized.
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