TJX Companies (TJX) Reports Increase in June Sales; Raises Q2 and FY EPS

The TJX Companies, Inc. (NYSE: TJX) reported June 2010 sales results. Sales for the five-week period ended July 3, 2010, were $2.0 billion, up 7% over the $1.8 billion achieved during the five-week period ended July 4, 2009. For the 22-week period ended July 3, 2010, sales reached $8.6 billion, a 12% increase over the $7.7 billion achieved in the same period last year.

Consolidated comparable store sales for the five-week period ended July 3, 2010, increased 3% over last year. For the 22-week, year-to-date period, consolidated comparable store sales increased 7% over last year.

For the second quarter of Fiscal 2011, the Company’s raised guidance of $.70 - $.73 in earnings per share would represent an increase of 15% - 20% over $.61 per share last year. (Consensus is $0.72)

With this updated outlook for the second quarter, the Company is raising its guidance for full year Fiscal 2011 earnings per share to the range of $3.24 - $3.33, up an estimated 14% - 17% over $2.84 in Fiscal 2010. (Consensus is $3.35)

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