Discount store chain TJX Companies, Inc. (TJX), Thursday recorded a 12% increase in January same store sales and a 20% increase in total sales boosted by higher customer traffic. Taking cue from January sales and margins, TJX raised its guidance for fourth quarter and full year 2010.
Comparable store sales or sales at store opened at least over a year increased 12% in January, on top of a 4% decline in the same period a year ago. Sales for January rose 20% to $1.3 billion from $1 billion in the same period a year ago.
Commenting on the January results, Carol Meyrowitz, president and chief executive officer of TJX Companies, Inc., stated, "We are very pleased with our 12% increase in January consolidated comparable store sales, particularly since January is typically not a big shopping month."
Comparable sales increases were supported by a 13% increase from the Marmaxx Group coupled with robust performance from all divisions, despite significantly lower levels of clearance inventories.
For the 13-week fourth quarter, consolidated comparable store sales increased 12% versus a 2% decrease in the prior-year period.
For the 52-week year-to-date period, consolidated comparable store sales increased 6% over a 1% increase last year. Sales were up 8% at $20.3 billion, compared to $18.7 billion recorded in the same period a year ago.
Looking ahead to the fourth quarter, TJX said it now expects earnings from continuing operations to be in a range of $0.90 to $0.91, up 55% to 57% over $0.58 per share last year on a reported basis. Previously, the company expected earnings in a range of $0.82 per share to $0.84 per share.
On average, 21 analysts polled by Thomson Reuters currently expects earnings of $0.84 per share for the quarter. Analysts' estimate typically excludes one-time items.
Excluding $0.09 per share for last year's extra week and $0.03 per share for last year's non-operating item, fourth quarter guidance represents a 96% to 98% increase over last year's adjusted $0.46 in earnings per share.
TJX also said it is raising its guidance for full year Fiscal 2010 earnings from continuing operations to be in a range of $2.80 per share to $2.81 per share, up 35% over $2.08 per share last year on a reported basis. Street currently expects earnings of $2.74 per share for the year. Previous forecast was in a range of $2.72 per share to $2.74 per share.
Excluding $0.09 per share for last year's extra week and $0.07 per share for last year's non-operating items, the company's full year guidance represents a 46% increase over last year's adjusted $1.92 per share.
Among others in the industry, Kohl's Corp. (KSS) reported a 6.5% increase in comparable store sales for the month of January with a 10.7% increase in total sales to $798 million.
Another department stores operator Macy's, Inc. (M) reported an 3.4% increase in January same-store sales and also raised its fourth quarter earnings forecast.
TJX is currently trading at $38.50, down $0.25 or 0.64%, on a volume of 2.78 million shares. In the last 52-week period, the stock traded in a range of $19.33 to $40.64, with a three-month average volume of 4.81 million shares.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.